Greece, TAP Begin Host Government Agreement Talks

The Trans Adriatic Pipeline (TAP) and the Greek government formally initiated the process to conclude the Host Government Agreement that will govern the group’s investment. At 1.5 billion Euros, this is expected to be the single largest current Foreign Direct Investment (FDI) in Greece.

TAP is competing to deliver gas from Azerbaijan into Europe and, if selected, will put Greece firmly on the European energy map as the EU realizes its 4th major gas import corridor. The final selection of the gas transportation route is expected early in 2013 by the BP-operated Shah Deniz consortium in Azerbaijan. TAP is the only option that will go through Greece.

“The Host Government Agreement is a key step towards securing selection in 2013 of the Greek Route,” Rikard Scoufias, TAP’s Country Manager for Greece, said adding, “we are very pleased with our cooperation with the Greek government, and this is yet another significant step towards realising the TAP project, which is destined to bring thousands of direct and indirect job opportunities as well as strengthen Greece’s strategic role in Europe.”

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LNG World News Staff, December 28, 2012