The Trans Adriatic Pipeline (TAP) and the Greek government today formally
initiated the process to conclude the Host Government Agreement that will govern
the group’s investment. At 1.5 billion Euros, this is expected to be the single
largest current Foreign Direct Investment (FDI) in Greece.
TAP is
competing to deliver gas from Azerbaijan into Europe and, if selected, will put
Greece firmly on the European energy map as the EU realizes its 4th major gas
import corridor. The final selection of the gas transportation route is expected
early in 2013 by the BP-operated Shah Deniz consortium in Azerbaijan. TAP is the
only option that will go through Greece.
"The
Host Government Agreement is a key step towards securing selection in 2013 of
the Greek Route," Rikard Scoufias, TAP's Country Manager for Greece, said
adding, "we are very pleased with our cooperation with the Greek government, and
this is yet another significant step towards realising the TAP project, which is
destined to bring thousands of direct and indirect job opportunities as well as
strengthen Greece's strategic role in Europe."