TAP confirms adoption of resolution on pipeline construction

The trans-Adriatic gas pipeline (TAP) confirms adoption of the resolution on the pipeline construction after signing of the final investment decision on the Shah-Deniz-2 project, reads the TAP statement released on Tuesday.

According to the statement, the  TAP shareholders, including SOCAR, Statoil, BP, Fluxys, EON and Azpo, confirmed on December 17 that they have agreed the resolution on construction of the TAP. The statement followed the information about signing of the final investment decision on the Shah-Deniz-2 project on Tuesday. 

The statement reads that year 2013 was important for TAP, which in June 2013 was selected by the Shah-Deniz consortium as the route for transportation of gas from the Azerbaijani Shah-Deniz field to Europe.

TAP Managing Director Kjetil Tungland that the agreement concluded by the TAP shareholder, is a very important milestone of the project and demonstration of confidence in its commercial and technical advisability.

Commenting on signing of the final investment decision by the Shah-Deniz consortium, he said the decision is another historical step towards implementation of the Southern Gas Corridor project.

Shah-Deniz will ensure diversification and safety of gas deliveries to Europe and will raise a strategic importance of the countries located along its route, Tungland said.—0—