The Albanian Parliament has approved the Intergovernmental Agreement (IGA) signed between Albania, Italy and Greece, related to the construction and operation of the Trans Adriatic Pipeline (TAP) project.
The agreement was signed in Athens, Greece on 13 February 2013.
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The IGA approval will help to finalise the Host Government Agreement (HGA), signed in Tirana between TAP’s managing director Kjetil Tungland and Albania’s Minister of Economy, Trade and Energy, Edmond Haxhinasto, on 18 January 2013.
The HGA will help to clear permitting process related to the TAP project, as well as to implement technical and safety standards or land easement procedure.
TAP managing director, Kjetil Tungland, said that the approval of the IGA will play a key role in the company’s decision support package submission to Shah Deniz.
TAP external affairs director, Michael Hoffmann, said that the IGA approval by the Albanian Parliament is demonstrating the company’s enhancing advanced status.
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By GlobalData"This is extremely rare and once again illustrates the very strong commitment of the Albanian authorities in making TAP a reality," Hoffmann added.
The TAP project will provide support for the creation of the national gas master plan (GMP), with the help of the Albanian Government, to develop gas transportation grid to supply gas to businesses and Albanian families.
TAP is also planning to invest about €1bn in Albania, as the project continues to develop.
TAP will transport natural gas from the Shah Deniz II field in Azerbaijan to European countries including Bulgaria, Albania, Bosnia and Herzegovina, Montenegro and Croatia.
It will interconnect the Trans Anatolian Pipeline (TANAP) near the Turkish-Greek border, crossing Greece and Albania, and finally reaching southern Italy.
TAP’s shareholders include Axpo from Switzerland and Norway’s Statoil with 42.5% interest each, and Ruhrgas from Germany with 15% interest.
Image: Trans Adriatic Gas Pipeline map. Photo: Courtesy of Genti77.
