EU approves Trans Adriatic gas pipeline project

The EU Commission has approved a gas pipeline project through the Adriatic Sea. It said the agreement between the Greek authorities and the Trans Adriatic Pipeline (TAP) are in line with […]

Register now!

By Jacqueline Echevarria

The EU Commission has approved a gas pipeline project through the Adriatic Sea.

It said the agreement between the Greek authorities and the Trans Adriatic Pipeline (TAP) are in line with the region’s state aid rules.

TAP is a joint venture of several energy companies including BP, Socar and Enagas and is investing €5.6 billion (£4.3bn) over five years.

The Commission believes the project, which will take gas through Greece and Albania into Italy, will contribute to further diversification of European energy supply.

It is part of the Southern Gas Corridor, which has a capacity of 10 billion cubic meters and connects the EU market to new sources of this kind from Azerbaijan.

Margrethe Vestager, EU Commissioner in charge of competition policy, said: “The Trans Adriatic Pipeline will bring new gas to the EU and increase the security of energy supply for Southeast Europe. The investment incentives offered by the Greek Government are limited to what is necessary to make the project happen and in compliance with state aid rules.”

The Trans Anatolian Pipeline (TANAP) is also part of the gas infrastructure in the region.