Greece seeks profit from transit via trans-Adriatic pipeline

Greece seeks profit from gas transit via the trans-Adriatic gas pipeline, which will deliver Azerbaijani gas to the European markets, Reuters reported on Wednesday citing Greek Energy Minister Panayotis Lafazanis.

“Without questioning our support to TAP project, we would like to receive profit for our country and our people, which we think is reasonable and fair,” Lafazanis said.

Reuters reported citing a source from the energy field that Greece, which has a shortage of finance, could ask for a share in the project or request a transit fee.

In February 2015 Lafazanis said that the Greek government supports construction of TAP and IGB gas pipeline (interconnector Greece-Bulgaria).

During his recent visit to Azerbaijan Lafazanis has discussed how Greece could benefit from TAP construction with several officials and said he is open to discussion of this issue.

TAP was selected as the consortium for development of the Azerbaijani Shah Deniz field as the route for gas transportation to the European markets.

The project is designed to transport gas from the Caspian region to the south of Italy and then further to Western Europe via Greece, Albania and Adriatic Sea. Total length of the pipeline will be about 870 km.  The pipeline construction is expected to begin in 2016.

TAP shareholders include BP (20%), SOCAR (20%), Statoil (20%), Fluxys (16%), Total (10%), E.ON (9%) and Axpo (5%).—0—