Switzerland supports the Trans Adriatic Pipeline (TAP) project amongst the projects designed to ensure transportation of Caspian gas to Europe, Swiss Deputy Energy Minister Walter Steinmann said at a meeting with the head of State Oil Company of Azerbaijan (SOCAR) Rovnag Abdullayev in Baku on Thursday.
According to the report released by SOCAR on Thursday, at the meeting Steinmann spoke about the work carried out by the Swiss side for the implementation of the TAP project.
Noting his country's interest in diversifying Azerbaijan's gas export routes to Europe, and Europe's energy security, Abdullayev said that SOCAR is considering gas export projects to Europe on a par.
Underscoring the importance of projects implemented by SOCAR in Switzerland, the deputy minister emphasized good prospects for cooperation between the parties in the field of petrochemicals and renewable energy sources.
TAP is designed to transport gas from the Caspian region via Greece and Albania and across the Adriatic Sea to southern Italy and further into Western Europe. Gas to be produced within the second phase of Azerbaijani Shah Deniz gas condensate field development will be the main source for TAP.
TAP's initial pipeline capacity will be 10 billion cubic metres per year, but is easily expandable to 20 billion cubic meters per year. TAP's shareholders are AXPO of Switzerland (42.5%), Norway's Statoil (42.5%) and E.ON Ruhrgas of Germany (15%)./Trend/