TODAY.AZ / Business

Trans Adriatic Pipeline AG to start Booking Phase in March

20 February 2014 [13:55] - TODAY.AZ
Trans Adriatic Pipeline AG, which is the exclusive provider of transportation services and related marketing rights on TAP, will start the Booking Phase by sending the Booking Phase Notice to all registered participants on March, 17.

All participants in the Expression of Interest (EoI) Phase are allowed to participate in this first Booking Phase, subject to the capacity caps for the Italian, Greek and Albanian market, TAP reported on its official website.

A party is considered to have participated in the EoI phase also if another party has expressed interest for the benefit of the party that wishes to participate in the Booking Phase, in accordance with the procedures set out in the EoI Notice, according to the report.

The EoI Phase took place from 15 June 2012 until 15 August 2012. In the EoI phase all potential users, institutions and TSOs were invited to express their interest in contracting capacity or in connecting to the TAP Pipeline. The EoI Phase neither bound participants to book the capacity for which they had expressed their interest, nor bound TAP AG to offer it.

The terms of registration and participation in the Booking Phase are published on TAP's official website.

The TAP project was selected by the consortium of Azerbaijani Shah Deniz field development as the transportation route to the European markets. The project is designed to transport gas from the Caspian region via Greece and Albania and across the Adriatic Sea to the south of Italy and further to Western Europe. The initial capacity of the pipeline will be 10 billion cubic meters per year, but it can easily be expanded to 20 billion cubic meters per year.

The current shareholders in TAP AG are BP (20 percent), SOCAR (20 percent), Statoil (20 percent), Fluxys (16 percent), Total (10 percent), E.ON (9 percent) and Axpo (5 percent).


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URL: http://www.today.az/news/business/131125.html

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