TAP: Severe Weather in Europe Highlights Importance of Bringing Caspian Gas to SEE

Trans Adriatic Pipeline (TAP) issued today a statement regarding the current gas supply shortfalls in Europe.

“The extreme cold weather that Europe is presently facing has boosted gas demand, putting energy supplies under strain. In the past couple of days Russian gas supplies to Europe have fallen sharply, due to increase of own demand. In Italy, gas flows were reduced by 20% compared with normal levels, ” Kjetil Tungland, Managing Director of Trans Adriatic Pipeline said.

“This highlights the urgent importance of finding a solution to bring Caspian gas to South Eastern Europe, the region that needs it the most. I am hopeful that in the years to come, the proposed Trans Adriatic Pipeline will be able to deliver this in a cost effective and technically robust manner,” he added.

The Trans Adriatic Pipeline will transport gas via Greece and Albania and across the Adriatic Sea to southern Italy and further to Western Europe.

TAP will open a new so-called Southern Gas Corridor to Europe and market outlet for natural gas from the Caspian Sea region.

The project is designed to expand transportation capacity from 10 to 20 bcm per year depending on throughput.

[mappress]

LNG World News Staff, February 6, 2012; Image: TAP