Over 50% of TAP Is Completed, EU Backs IAP

Over 50% of TAP Is Completed, EU Backs IAP

TIRANA, September 8

The Trans Adriatic Pipeline is now more than 50 percent completed. This was confirmed by the company in a recent announcement. According to the TAP, this was achieved in about 16 months after construction began. So far, about 70 percent of the project route in Albania and Greece was cleared. Moreover, the company will invest more than Euro55 million in social and environmental investment in Greece, Albania, and Italy. The pipeline will transport natural gas from Shah Deniz II field in Azerbaijan to Europe.
TAP will promote economic development and job creation along the pipeline route; it will also be a major source of foreign direct investment.
TAP’s progress was welcomed during a joint regional conference held in Tirana on Friday on the Ionian Adriatic Pipeline (IAP) project. The gasification of the Western Balkans is expected to bring huge economic benefits to Albania in terms of income, investments, technology, and knowledge.
Head of the European Union Delegation in Albania Romana Vlahutin said that diversification and security of energy sources are of strategic importance for the countries of the region. “Looking no further than the last few months in Albania, the overreliance on hydropower has had costly consequences this summer,” she said.
She also added that the Ionian Adriatic Pipeline would multiply the benefits of the Southern Gas Corridor and the TAP, by allowing the gasification of Croatia, Bosnia-Hercegovina, and Montenegro.
Speaking about the Ionian-Adriatic Pipeline, Vlahutin said that the EU will remain supportive of closer cooperation with all the stakeholders and potential investors to get this priority project implemented on time. This pipeline would run from Fier in Albania to Split in Croatia for 516km.
News Source: TAP, EU in Albania 

Photo Credit: TAP

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