Baar,
Switzerland. E.ON’s
participation, announced in May, is a significant step in the realization of the
TAP project which plans to build a 520-km pipeline with a capacity of between 10
and 20 bcm per year from Greece, through Albania and the Adriatic Sea, to
Italy. Statoil and EGL now each hold a 42.5% shareholding in the project
company.
Making
the announcement, TAP Managing Director Kjetil Tungland commented: “E.ON Ruhrgas
has a strong track record in the successful development of gas projects in both
the upstream and downstream sectors. Their additional knowledge and expertise
will further strengthen our project as we continue to make steady progress.”
TAP will
open the Southern Gas Corridor by offering the shortest route to market for
natural gas from the Caspian and Middle East. The project, which will enhance
both security and diversity of gas supply to Europe still remains open for
additional partners, said Mr. Tungland.