Enagás and Fluxys have signed an agreement to acquire 19% of Total and E.ON’s stake in the company that is developing the Trans Adriatic Pipeline (TAP) project, in which Enagás will hold a 16% stake. TAP’s shareholding now comprises BP (20%), Socar (20%), Statoil (20%), Fluxys (19%), Enagás (16%) and Axpo (5%).
This TAP project involves the construction of an 871 km long pipeline linking Turkey and Italy and running through Greece and Albania, including the associated compressor stations. The pipeline will run for 547km through Greece, 211km through Albania, 8km through Italy and 105km offshore under the Adriatic Sea, with an initial capacity of 10BCM per annum. In line with the timetable of the Shah Deniz field in the Caspian Sea, first gas deliveries of gas to TAP in Europe are scheduled for approximately 2019.
The European market is one of the key areas of international growth specified in the Enagás 2013–2015 Strategic Update. Therefore, participating in this project is a major step forward in the company’s internationalisation process.
