Snam: 20-percent interest in TAP would cost around 400 mln euros

Snam: 20-percent interest in TAP would cost around 400 mln euros

Chi_siamo_SRG_en_1A 20-percent interest in the Trans Adriatic Pipeline (TAP) project would cost around 400 million euros, Natural Gas Europe reported with the reference to Italian Snam’s CEO Carlo Malacarne. The price has also to do with the current market conditions.

Malacarne also confirmed that there are TAP’s stakeholders willing to sell their shares to the Italian company.

“We will not witness an increase in gas consumption in Europe by 2030. It will be necessary to substitute the current production from the depleting fields with new sources” he said to Italian daily newspaper Corriere della Sera.

He explained Europe has not to decrease its imports from Russia, but find new partners to import new gas.

“We have to get gas where there is some, in the Caucasus, prospectively in Iran, in North Africa. And here we come into play” he said, adding that Italy should take a more central role in the Mediterranean, and especially in Algeria.

TAP project is a part of the Southern Gas Corridor that will allow Europe to diversify its hydrocarbon supply sources and strengthen energy security. Azerbaijani gas is designed to open the Southern Gas Corridor.

TAP will transport natural gas from the giant Shah Deniz II field in Azerbaijan to Europe. The approximately 870 km long pipeline will connect with the Trans Anatolian Pipeline (TANAP) at the Turkish-Greek border at Kipoi, cross Greece and Albania and the Adriatic Sea, before coming ashore in Southern Italy.

Related Post

Saipem wins new contract in Azerbaijan worth $1.3b... Saipem, along with consortium partners Bos Shelf and Star Gulf, have been awarded call-off 007 under the Shah Deniz Stage 2 Master Agreement by BP, th...
Maros Sefcovic: Southern Gas Corridor is true dive... Sefcovic made the statement at the Greek Energy Forum in Thessaloniki, Greece. As the initiator of the biggest Southern Gas Corridor project, Azerbai...
Cashing In On Pieces Of The Caspian Jigsaw The landlocked Caspian Sea is one of the oldest oil producing regions in the world and growing its reputation as a gas producer, but the region poses ...
Albania sees number of PV projects to compete in u... The Albanian Ministry of Energy and Industry is currently reviewing another project proposal for a PV project that very likely will compete in the sol...
EU dreams of Iranian gas to break dependence on Mo... The EU is hoping future gas imports from Iran can break its dependence on Russia as prospects grow for a nuclear deal that would include lifting san...
share