20th May 2016

Trans-Adriatic Pipeline construction officially started

On 18 May, Greek PM Tsipras, together with representatives of other participating countries, officially launched the constructions of the Trans-Adriatic Pipeline - a crucial part of the nascent Southern Gas Corridor to the EU. Linked to the Trans-Anatolian Pipeline (TANAP), the two pipelines will connect the EU to the Shah Deniz gas field in Azerbaijan - thus opening a new route from a new source of natural gas to Europe. The project is seen as vital for the EU with regard to security of gas supply and could lower EU´s dependence on Russian gas. The pipeline should be operational in 2020. The whole gas route from Azerbaijan to Southern Italy will be 3500 km long and the overall costs are 45 billion USD. TAP is financed and will be operated by a consortium of European and Azeri companies. It has backing from the EU.

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Members of the American Chamber of Commerce in the Czech Republic