Enel SpA (ENEL.MI), Italy's biggest utility by market value, is interested in the Trans Adriatic Pipeline, or TAP, project that aims to bring Caspian natural gas to the country, its Chief Executive Fulvio Conti said Wednesday.
Enel SpA (ENEL.MI), Italy's biggest utility by market value, is
interested in the Trans Adriatic Pipeline, or TAP, project that aims to bring
Caspian natural gas to the country, its Chief Executive Fulvio Conti said
Wednesday.
"Enel is interested in all projects that bring gas to the country,
including TAP," said Conti on the sidelines of a conference in
Rome
.
TAP aims to transport gas from the Caspian area to
Southern
Italy
, through
Greece
and
Albania
,
with an initial annual capacity of 10 billion cubic meters. That capacity could
be doubled as part of the European Union's efforts to reduce its dependence on
fuel from
Russia
.
Last week, Italian Industry Minister Corrado Passera said it is important that
an Italian company is involved in whichever project is picked to import gas
from the Caspian area.
Enel is state-controlled.
TAP is the only key gas pipeline project that doesn't have Italian
shareholders. Its sponsors are Swiss' EGL,
Germany
's
E.ON AG (EOAN.XE) and
Norway
's
energy giant Statoil ASA (STO).
TAP's main competitors are the OAO Gazprom-led (GAZP.RS) South Stream project,
as well as the Interconnector Turkey-Greece-Italy, or ITGI project, in which
Edison SpA (EDN.MI) is one of the main backers.
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