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Snam says Gazprom can double TAPâ€™s capacity

25 January 2017 08:12 (UTC +04:00)

Gazprom is exploring the possibilities of using Poseidon and TAP to transport gas to Europe, Gazprom Deputy CEO Alexander Medvedev said yesterday.

The company’s official said that Nord Stream 2 and Turkish Stream may be insufficient to meet Europea’s demand for gas: “Therefore, we are negotiating with our partners from the Southern Europe. The subject is the usage of Poseidon and TAP”.

Then the top-manager noted that no concrete purpose was made on Gazprom’s joining TAP.

Snam Vice-President Federico Ermoli told Interfax agency that Gazprom’s joining TAP will double its capacity: “We can increase the capacity up to 20 bcm by a small investment. This will cheaper than Poseidon’s expansion. Russian gas may be transported to Italy, Austria, Slovakia, Hungary, Romania and Bulgaria”.

Fluxys CEO Pascal De Buck also supported Gazprom’s joining the TAP.

Trans Adriatic Pipeline is a pipeline project to transport natural gas, starting from Greece–Turkey border at Kipoi, Evros, where it will be connected with the Trans-Anatolian gas pipeline. It will cross Greece, Albania and the Adriatic Sea and come ashore in Italy near San Foca. The total length of the pipeline will be 878 kilometres. The initial capacity of the pipeline will be about 10 billion cubic metres of natural gas per year, with the option to expand the capacity up to 20 billion cubic metres.

TAP shareholders: SOCAR (20%), BP (20%), "Snam" (20%), "Fluxys" (19%), "Enagas" (16%) and "Axpo" (5%).