Snam will decide whether to invest in TAP by the end of 2015

  04 September 2015    Read: 1260
Snam will decide whether to invest in TAP by the end of 2015
Italian gas infrastructure company Snam will decide by the end of 2015 whether to invest in the project to build the Trans Adriatic Pipeline (TAP) that will carry gas from Azerbaijan to Europe, its chief executive said on Friday.
Report informs CEO Carlo Malacarne told Reuters in June Snam was ready to evaluate buying up to 20 percent of the project.

"I believe we`ll know something more about this by the end of the year," Malacarne told reporters on the sidelines of the Ambrosetti Forum business conference.

He also forecast a 5 percent rise in Italy`s gas demand this year to 70-71 billion cubic metres.
TAP is a joint-venture between BP (20%),SOCAR (20%), Statoil (20%), Fluxys (19%), Enagás (16%) and Axpo (5%).

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