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TAP announces changes in market test schedule

TAP announces changes in market test schedule

Economy
04 June 2020, 18:16 306
The Trans Adriatic Pipeline (TAP) consortium has announced changes to the timing of the market test, Trend reports citing TAP AG consortium.
The three transmission system operators – Trans Adriatic Pipeline (TAP) AG, Snam Rete Gas (SRG) and DESFA (hereinafter collectively referred to as the TSOs) – announce that the binding bidding phase of the ongoing market test would take place in July 2021.
The joint consultation on the draft project proposal published on 20 January 2020 provided an indicative timing (January 2021) for the binding bidding phase.
Given the recent market conditions, the TSOs would like to allow more time for energy markets to recover.
Relevant information for participation will be published on the TSOs’ corporate websites in due course, at least two months prior to the start of the binding bidding phase.
The final details will be provided in the project proposal.
On 1 July 2019, Trans Adriatic Pipeline AG (TAP) launched a Market Test, the commercial process through which natural gas shippers can get access to new, long-term capacity in TAP, thereby enabling the future expansion of the pipeline capacity.
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.
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).