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TAP to invest 800 mln euro in Albania in 2017-2018 - report

TAP to invest 800 mln euro in Albania in 2017-2018 - report TAP construction; Source: TAP AG

TIRANA (Albania), August 8 (SeeNews) - The Trans Adriatic Pipeline (TAP) consortium plans to invest a total of 800 million euro ($945 million) in Albania in 2017 and 2018, local media reported. 

TAP will invest in Albania 400 million euro in each of 2017 and 2018, the country's official ATA news agency quoted TAP Albania country manager, Shkelqim Bozgo, as saying on Monday.

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.

The pipeline's initial capacity will be 10 billion cubic metres of gas per year, which could double further on.

TAP’s shareholding structure comprises BP (20%), SOCAR (20%), Snam (20%), Fluxys (19%), Enagas (16%) and Axpo (5%).

($ = 0.846582 euro)

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