TAP gas pipeline to go ahead despite low oil prices

Construction of the Trans-Adriatic Pipeline (TAP) will go ahead despite low oil prices, TAP’s country manager for Greece, Rikard Scoufias said, Reuters reported March 23.

TAP is meant to transport natural gas from the giant Shah Deniz 2 field in Azerbaijan to Europe. The approximately 870 km long TAP will connect with the Trans Anatolian Pipeline (TANAP) at the Turkish-Greek border at Kipoi, cross Greece and Albania and the Adriatic Sea, before coming ashore in southern Italy.

“The project will not have an impact in terms of challenging the realization of TAP in any way,” said Scoufias at an energy conference in Athens when asked about the impact of plunging oil prices on the project.

“The financial investment decision has already been taken,” he added. “But it does put an additional emphasis on cost management.”

/By Trend/