New route for transportation of Caspian gas to Europe

BAKU. June 28. KAZINFORM - Trans Adriatic Pipeline (TAP) is selected by Consortium for development of Azerbaijani gas condensate field called "Shahdeniz" which is located in the Caspian Sea, as gas-transit route to European markets.

Gordon Birrell, regional president of British Petroleum in Azerbaijan, Turkey and Georgia, speaking at a press conference in Baku mentioned that gas supply would be carried out via Trans-Adriatic Pipeline (TAP).

Mr. Birrell said that two years before Ilham Aliyev, President of Azerbaijan, and Jose Manuel Barroso, President of the European Commission, had endorsed a document which confirms possibility of transporting Azerbaijani gas to Europe.

"To implement "Shahdeniz-2: project and ensure gas delivery to Europe there will be investment of USD 40 billion."Shahdeniz-2" project requires additional 16 billion cubic meters of gas from the field", said Mr. Birrell.

TAP is designed to transport gas from the Caspian region via Greece and Albania and across the Adriatic Sea to southern Italy and then to Western Europe.

Gas which is to be produced during the second phase of "Shah Deniz" Azerbaijani gas condensate field development is considered as the main source for the project.

The initial capacity of the TAP pipeline will be 10 billion cubic meters per year with future expand to 20 billion.

TAP shareholders are Swiss AXPO (42,5%), Norway's Statoil (42,5%) and German E.ON Ruhrgas (15%).