Goodwill On TAP, IAP, Signed in Tirana

An international goodwill agreement has been signed regarding a proposed westbound pipeline that would carry natural gas from the Caspian basin, starting from Greece via Albania and the Adriatic Sea to Italy and further to Western Europe.

Leaders of Albania, Bosnia Herzegovina, Montenegro and Croatia signed the document at a ceremony in the Albanian capital, Tirana.

The agreement covers construction of two new pipelines - the Trans-Adriatic (TAP) and the Ionian-Adriatic (IAP), the Ministry of Foreign Affairs of Montenegro says, according to Azeri agency APA.

Albanian Prime Minister Sali Berisha said the project was being carried out successfully and it would provide the region's gas demand.

"The balanced distribution of the gas is extremely important both for Europe and the Balkans. The project will also contribute to efforts to overcome regional disparities," Berisha said.

TAP is one of two contenders, the other being Nabucco, for the transport natural gas from the giant Shah Deniz II field in Azerbaijan.