Date: 17 January 2019, 13:23,
TAP AG, the consortium engaged in construction of the Trans Adriatic Pipeline (TAP), which envisages transportation of Azerbaijani gas to Europe, has requested Albania’s Energy Regulatory Entity (ERE) to issue a license for natural gas transmission, Trend reports citing monitor.al.
Reportedly, just a few days ago, ERE launched the standard licensing procedure and asked the TAP AG consortium to submit additional documents needed.
The license will be issued for 25 years, according to the report.
"The process of reviewing the application will be carried out in accordance with the "Regulation on procedures and deadlines for issuing, modifying, transferring, renewing and abolishing licenses in the Natural Gas Sector,” reads ERE's decision.
TAP project, worth 4.5 billion euros, is one of the priority energy projects for the European Union (EU). The project envisages transportation of gas from Azerbaijan's Shah Deniz Stage 2 to the EU countries.
Connecting with the Trans Anatolian Pipeline (TANAP) at the Greek-Turkish border, TAP will cross Northern Greece, Albania and the Adriatic Sea before coming ashore in Southern Italy to connect to the Italian natural gas network.
The project is currently in its construction phase, which started in 2016.
Once built, TAP will offer a direct and cost-effective transportation route opening up the vital Southern Gas Corridor, a 3,500-kilometer long gas value chain stretching from the Caspian Sea to Europe.
TAP shareholders include BP (20 percent), SOCAR (20 percent), Snam S.p.A. (20 percent), Fluxys (19 percent), Enagás (16 percent) and Axpo (5 percent).