Project company for Ionian-Adriatic Gas Pipeline named

By Trend

The construction of the Ionian-Adriatic Gas Pipeline (IAP) will be led by a project company based in Split and shareholders from four countries through which the pipeline passes or is used, Trend reports citing EURACTIV.

Pandemic and ‘other market circumstances’ delayed the implementation of one of the largest energy projects in this part of Europe, the source said.

Reportedly, the complexity of the route, as well as the coordination of four different countries and four gas transmission system operators, affects the speed of activities and project implementation.

So far, Croatia has withdrawn €3.5 million from EU funds to prepare the construction of the IAP. Montenegro and Bosnia and Herzegovina have also received money for the IAP from Brussels in the total amount of €4.2 million.

The planned capacity of the IAP is five billion cubic metres of natural gas per year. Albania will use approximately one billion cubic metres, Montenegro would take half a billion, for southern Bosnia and Herzegovina one billion cubic metres. Croatia would take over about 2.5 billion cubic metres a year for its own needs and the needs of countries in Central and Eastern Europe.