ERE`s decision creates a high level of transparency while respecting TAP AG`s specific governance features during the period of construction of the pipeline, the message said.
The TAP pipeline is meant to transport natural gas from the giant Shah Deniz 2 field in Azerbaijan to Europe. The approximately 870 km long TAP will connect with the Trans Anatolian Pipeline (TANAP) at the Turkish-Greek border at Kipoi, cross Greece and Albania and the Adriatic Sea, before coming ashore in southern Italy.
TAP`s shareholding is comprised of BP (20 percent), SOCAR (20 percent), Snam S.p.A (20 percent), Fluxys (19 percent), Enagás (16 percent) and Axpo (5 percent).
TAP`s initial capacity will be 10 billion cubic meters of gas a year, expandable to 20 billion cubic meters. The pipeline`s construction is planned to start in May 2016.
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