TIRANA (Albania), February 18 (SeeNews) – Albanian Energy Regulatory Authority (ERE) said it has granted a 25-year licence to Trans Adriatic Pipeline (TAP) AG company for functioning as an independent natural gas transmission operator in the country.
The decision has entered into force and was published in the Official Gazette, ERE said in a press release last week.
In January, TAP said it reached a financial close, securing Euro 3.9 billion (Dollar 4.4 billion) financing from public and private lenders.
In October, the company completed the connection of the Trans Adriatic Pipeline with the Trans Anatolian Pipeline (TANAP) at the Turkish-Greek border. TAP also launched construction works in Albania for the 105 km offshore section across the Adriatic Sea that will link the gas pipeline to Italy’s transmission network. Connecting with the TANAP at Greece's border with Turkey, the Trans Adriatic Pipeline will stretch across northern Greece, Albania and the Adriatic Sea before reaching Italy's coast.
TAP is part of the Southern Gas Corridor, which also comprises the South Caucasus Pipeline (SCP) crossing Azerbaijan and Georgia, and TANAP.
The shareholders of TAP are BP, Azerbaijan’s state company Socar and Italy’s Snam with 20% each, Belgium’s Fluxys with 19%, Spain’s Enagas with 16% and Swiss-based Axpo with 5%.
($ = 0.88490 euro)