Govt signs MoU on Trans Adriatic Pipeline

TIRANA, May 18 – The Albanian government has signed a memorandum of understanding with the Trans Adriatic Pipeline (TAP) AG on the construction of the natural gas pipeline project in Albania. The memorandum signed by the Economy Ministry determines the steps that should be followed by both the Albanian government and the company to implement the Trans Adriatic pipeline project for Albania.
The economy Ministry says it will undertake steps to establish a trilateral intergovernmental commission with Greece and Italy as a joint forum to implement the project.
The Trans Adriatic Pipeline (TAP) AG is a proposed pipeline project. The 520km-long pipeline will start in Greece near Thessaloniki, cross Albania and the Adriatic Sea and come ashore in Italy near Brindisi, allowing gas to flow directly from the Caspian basin and Middle East into European markets.
The project also envisages the development of natural gas storage facilities in Albania to further ensure security of supply during operational interruptions of gas deliveries.
The company has opened has opened offices in Albania, Italy and Greece, aiming to ensure liaising with the authorities in the host countries in preparing and submitting all necessary applications.
TAP’s aim is to provide sustainable solutions for gas supply infrastructure designed to promote diversification and security of supply, as well as generate economic growth and political stability by opening the Southern Gas Corridor.
The TAP company is a Swiss-based joint venture company equally owned by Norway’s Statoil and Swiss-based EGL Group.