TAP’s expected net profit revealed

By Azernews

By Mirsaid Ibrahimzade

Being a part of Southern Gas Corridor, TAP (Trans Adriatic Pipeline) makes its own significant contribution to successful completion of this project which envisages transportation of gas from Azerbaijan's Shah Deniz Stage 2 to the EU countries.

TAP may bring a net profit of 238 million euros after the first year of operation, that is, in 2021, according to the estimates of one of the partners of the TAP AG consortium.

The overall progress of the pipeline is nearing 90 percent, and majority of the land along the TAP route was restored.

As for the welding work, 99 percent of it was finished on the onshore route of the TAP. TAP AG consortium stated that the welding seams are automatically tested to ensure that they comply with national and international standards.

Recently, shallow water pipelay and offshore backfilling in Albania as part of the TAP project was finished.         

TAP project started in 2016. Once built, TAP will offer a direct and cost-effective transportation route opening up the vital Southern Gas Corridor, a 3,500-kilometer long gas value chain stretching from the Caspian Sea to Europe.

The first gas deliveries to Europe via TAP are expected to start in 2020.

It will transport natural gas from the Caspian basin to Europe, connecting with the Trans Anatolian Pipeline (TANAP) at the Greek-Turkish border, crossing Northern Greece, Albania and the Adriatic Sea before coming ashore in Southern Italy to finally connect to the Italian natural gas network.

Trans Adriatic Pipeline AG is a joint venture company registered in Baar, canton Zug, Switzerland, with a purpose of planning, developing and building the TAP pipeline. The Managing Director of the company is Luca Schieppati.