TAP MD: 2011 Was "Massively Important"; 2012 to Be "Momentous"

The Trans-Adriatic Pipeline (TAP) is better placed than ever to win the contract to transport Shah Deniz gas, Managing Director of the pipeline consortium Kjetil Tungland has said.

The MD said that 2011 had seen the pipeline reached a number of milestones in progress, including the submission of Social Impact Assessments to each of the transit countries the pipeline would be built through, the signing of five MoUs and the decision to extend the pipeline through Greece.

He said that 2012 was placed to be an even more momentous year for the pipeline.

"Ultimately of course, the decision on who will be the winner in this historic race will come down to the Shah Deniz consortium and the Shah Deniz consortium alone," he said.

"However, as we begin 2012, in earnest my feeling is that TAP is better placed than ever before to win the contract to transport the gas. We have demonstrated categorically that our project is the most viable – in terms of financing, in terms of technical capability, in terms of route selection and in terms of environmental and social impact."

Mr. Tungland also urged speed in the development of the Southern Gas Corridor, given how tumultuous a year 2011 was for the energy industry and market.

"There is a growing sense of a need for urgency. Those very momentous events of 2011 – the catastrophe at Fukushima, the Arab Spring, spiraling domestic energy prices – have made even more clear the necessity of securing Europe’s energy future," he said. "The Southern Gas Corridor can play an important part in that, but it is essential that the industry starts work as soon as possible."