Albania, Greece, Italy sign MoU on Trans Adriatic Pipeline project

The memorandum provides TAP with the necessary political support to continue its commercial activities in Italy, said a statement posted on the website of TAP (www.trans-adriatic-pipeline.com).

The next steps will be to complete regulatory approvals, it added.

“Today’s signing follows a number of major milestones that TAP has achieved this year, including being the first pipeline to be selected by the Shah Deniz Consortium in February, a Cooperation Agreement with the Consortium in June and the Funding Agreement with BP, SOCAR and Total that was signed in August," TAP’s managing director Kjetil Tungland said in the statement.

"We are working to further progress the project in the coming months,” he added.

TAP will transport natural gas from the giant Shah Deniz II development in Azerbaijan, shipping it via Greece and Albania, across the Adriatic Sea to Southern Italy, and further into Western Europe.