August 24 (SeeNews) - The Trans Adriatic Pipeline (TAP) consortium has said it completed 47% of the pipe trenching works along the Southern Gas Corridor project in Albania and Greece.
TAP has completed the trenching of 360 km out of 765 km-long route of the pipeline in Greece and Albania, the consortium said in a Twitter post on Wednesday.
The Southern Gas Corridor consists of the South Caucasus Pipeline (SCP), which crosses Azerbaijan and Georgia, the Trans-Anatolian Pipeline (TANAP) which is still under construction in Turkey, and TAP, which is projected to start from the Greek border with Turkey, run through Albania and the Adriatic Sea to reach Italy's coast.
The total investment of the consortium in Albania will stand at 400 million euro ($471.6 million) in each of 2017 and 2018, Albanian media quoted TAP Albania country manager, Shkelqim Bozgo, as saying earlier this month.
The offshore construction works of TAP are scheduled to begin in 2018, while the tests and commissioning of the pipeline will be carried out in 2019, Bozgo said.
The gas pipeline project is designed to carry Azeri gas to Europe via Albania. It is expected to bring Albania total investments of some 1.5 billion euro.
TAP’s shareholding structure comprises BP (20%), SOCAR (20%), Snam (20%), Fluxys (19%), Enagas (16%) and Axpo (5%).
($ = 0.84825 euro)