EU welcomes agreement on Trans-Adriatic Pipeline

EU Energy Commissioner Gunther Oettinger on Friday welcomed yesterday\'s signature of a political agreement allowing the go-ahead of the Trans-Adriatic Pipeline project (TAP). \"This is another important step towards our aim to get gas directly from the Caspian Region,\" he said in a statement. TAP is a 20 billion cubic metres per annum (bcma) pipeline between Italy, Albania and Greece. This signature between Albania, Greece and Italy is an agreement in principle to the construction of a pipeline. The agreement allows the detailed permitting and regulatory procedures to go ahead, and paves the way for a formal inter-governmental agreement setting out the legal framework for the TAP pipeline. The Trans-Adriatic Pipeline starts in Komotini, Greece, and goes via Albania to Italy, connecting existing infrastructures in Italy and Greece. In the beginning of 2012, TAP has been selected by the Shah Deniz Consortium in Azerbaijan as preferred gas transportation for the Southern route. The Shah Deniz Gas field is the largest natural gas field in Azerbaijan. The production from Shah Deniz II (second phase of exploration, starting in a few years), will produce 16 bcm/year, noted the statement.