A 323-mile natural gas pipeline from Greece to Italy will get most of its supplies from a gas field in Azerbaijan, a project consortium announced.
Swiss energy company EGL, Norwegian oil and gas company Statoil and Germany's E.ON Ruhrgas lead the project consortium for the Trans Adriatic Pipeline, part of the so-called Southern Corridor of transit networks that includes the Nabucco gas pipeline.
Consortium members in a joint statement said the pipeline would get the bulk of its natural gas from the second phase of the Shah Deniz gas field in Azerbaijan.
"TAP shareholders consider Caspian gas to be the initial source of supply to fill TAP's initial capacity of 353 billion cubic feet per year," the statement read.
The pipeline would stretch some 323 miles through Greece and Albania to southern Italy. The consortium members said the project is the most cost-effective option to transport gas to the European market out of any of the projects in the Southern Corridor.
The consortium said the pipeline would be ready to go as soon as Shah Deniz II starts producing gas, which is expected as early as 2016.
The members in their statement stressed the Trans Adriatic Pipeline won't carry Iranian gas.
Swiss energy company EGL, Norwegian oil and gas company Statoil and Germany's E.ON Ruhrgas lead the project consortium for the Trans Adriatic Pipeline, part of the so-called Southern Corridor of transit networks that includes the Nabucco gas pipeline.
Consortium members in a joint statement said the pipeline would get the bulk of its natural gas from the second phase of the Shah Deniz gas field in Azerbaijan.
"TAP shareholders consider Caspian gas to be the initial source of supply to fill TAP's initial capacity of 353 billion cubic feet per year," the statement read.
The pipeline would stretch some 323 miles through Greece and Albania to southern Italy. The consortium members said the project is the most cost-effective option to transport gas to the European market out of any of the projects in the Southern Corridor.
The consortium said the pipeline would be ready to go as soon as Shah Deniz II starts producing gas, which is expected as early as 2016.
The members in their statement stressed the Trans Adriatic Pipeline won't carry Iranian gas.
