Greece, Italy and Albania Cement Their Support for TAP Project
The governments of Greece, Italy and Albania have today cemented their full support for and commitment to the Trans Adriatic Pipeline (TAP) project by signing a tri-lateral intergovernmental agreement (IGA).
Concluded at the Ministry of Foreign Affairs in Athens, the IGA solidifies a range of key commitments by Greece, Italy and Albania to the forward development, construction and operation of the TAP pipeline. Within the framework of the Community Treaties and the Energy Community Treaty, the IGA will ensure that the states cooperate in the timely delivery and efficient operation of the TAP pipeline.
Kjetil Tungland, TAP’s Managing Director, said: “I would like to thank all the governments for their support and dedication resulting in the signing of this important agreement today. This agreement between TAP’s host countries lays the strong foundation and long term security that is required to move the project forward towards selection and construction. We now look ahead to continuing our fruitful cooperation in making the TAP project a reality.”
Michael Hoffmann, TAP’s External Affairs Director, stated: “The signing of the IGA further reinforces the host governments’ support for TAP from a legal and regulatory perspective. For TAP, this concludes the last remaining high level international political agreement, which is important for the upcoming selection process by the Shah Deniz Consortium.”
TAP is one of the pipeline projects being developed to transport Shah Deniz gas to Europe and is the only pipeline option that will cross Greece. The Shah Deniz Consortium will make their final selection of the Southern Gas Corridor project to transport Shah Deniz gas by June 2013.
The Trans Adriatic Pipeline will bring significant foreign direct investment and jobs associated with the construction of this major pipeline in all three host countries – Greece, Albania and Italy.
Press Release, February 13, 2013