TAP Announces Second Phase of Market Test for Expansion

Trans Adriatic Pipeline (TAP) AG announced the second phase of the market test to expand the capacity of its project, requesting interested parties to register before 7 March 2014.

TAP, the pipeline connecting Azerbaijan to Italy, will start the Booking Phase to expand capacity on 17 March. In that occasion, TAP will send the Booking Phase Notice to all registered participants, as written in the company’s official website.

The current shareholders in TAP AG are BP (20%), SOCAR (20%), Statoil (20%), Fluxys (16%), Total (10%), E.ON (9%) and Axpo (5%). 

The consortium took the Final Investment Decision on the second phase of the project in December. The total cost of the expansion will be around $35 billion. 

Last year, the consortium clinched gas sales agreements with European buyers for some $100 billion. The nine buyers, mainly from Italy, committed to a 25-year gas supply.