TAP Increases European Energy Security, Says Oettinger

The Trans Adriatic Pipeline (TAP) will increase security of supply to European Union, said EU Energy Commissioner Guenther Oettinger in a note, commenting the decision by Shah Deniz II Consortium, which officially selected the TAP as the European route of the Southern Gas Corridor on Friday.

"We now have a new partner for gas, and I am confident that we will receive more gas in the future," Oettinger said in a statement.

TAP, that will run through Greece and Albania to Italy, is fronted by Statoil, AXPO and E.ON Ruhrgas. The target date for the first gas exports to Europe is 2019.

The project, first envisioned more than a decade ago, was chosen on Wednesday. The other was the Nabucco project, long supported politically by the EU executive.

"We have a definite commitment from Azerbaijan that gas will be directly delivered to Europe through a new dedicated gas pipeline system. Whether the system consists of two gas pipelines - TANAP and TAP - or one single pipeline as earlier projects had foreseen - does not make any difference in terms of energy security," said Oettinger. 

The Trans Anatolian Pipeline (TANAP) was already chosen in June 2012. Azerbaijan's Socar is the main shareholder, while the remaining 20% is in the hands of Turkey's Botas and TPAO. 

The European Union, which currently imports around a third of its gas from Russia, is keen to find new sources of gas in order to diversify supplies. According to the note, it continues to hold negotiations with potential gas suppliers in the bigger region in view of additional gas volumes.