Gas flows to Europe via the Trans Adriatic Pipeline (TAP) reached their full capacity of 10bcm a year for the first time after a 40% jump since mid-December, TAP said on Thursday.
The “10bcm is a symbolic, but an important, milestone,” said Luca Schieppati, TAP managing director. “We are currently able to reach the full transport capacity of 10bcm per year. On top of this, we can add further capacity via short-term auctions.”
The 878km pipeline, which made its debut in December 2020, connects with the Trans Anatolian Natural Gas Pipeline at the Turkish-Greek border and crosses Greece and Albania before coming ashore in southern Italy.
The pipeline can double its capacity to 20bcm within 45-65 months and the 10bcm delivery enhances gas market liquidity, said Marija Savova, TAP head of commercial.
The next binding phase is scheduled for July 2023, but TAP could launch it this year if interest for an earlier start is expressed in an ongoing public consultation, she said. During the binding phase, terminal owners finalise offers from customers booking capacity.
Italy is looking to increase gas supplies from sources such as Algeria and Azerbaijan and LNG imports to wean itself off Russian gas by 2025 in the wake of Russia’s attack on Ukraine.
About 8.5bcm of the 10bcm has come from Azerbaijan to Italy.
TAP shareholders include BP (20%), Socar (20%), Snam (20%), Fluxys (19%), Enagas (16%) and Axpo (5%).
/Argumentum.al
