Thursday, December 20, 2012

AP, Greek government begin host agreement talks

TAP is competing with Nabucco West for transporting Azerbaijani gas to Europe 
 
The Trans-Adriatic Pipeline would go through Greece and Albania and under the Adriatic to Italy. | TAP
On 19 December, the Trans Adriatic Pipeline and the Greek government formally initiated the process to conclude the Host Government Agreement that will govern the group's investment.

"The Host Government Agreement is a key step towards securing selection in 2013 of the Greek Route," TAP's Country Manager for Greece Rikard Scoufias said. "We are very pleased with our co-operation with the Greek government, and this is yet another significant step towards realising the TAP project, which is destined to bring thousands of direct and indirect job opportunities as well as strengthen Greece's strategic role in Europe," he added.
Greece is trying to lure foreign investments to spur growth. At €1.5 billion, TAP is expected to be the single largest current Foreign Direct Investment (FDI) in Greece.

TAP is competing with Nabucco West to deliver gas from Azerbaijan into Europe and, if selected, will put Greece firmly on the European energy map as the EU realises its fourth major gas import corridor. The final selection of the gas transportation route is expected early in 2013 by the BP-operated Shah Deniz consortium in Azerbaijan. TAP is the only option that will go through Greece.

No comments: