The Greek Government (the Ministry of Energy, Environment and C limate Change -
MEECC) and the Trans Adriatic Pipeline (TAP) project have today agreed the Host
Government Agreement (HGA) in Athens.
The HGA sets out the framework by
which the project will be realized and operated on Greek territory. This
includes processes related to land easement and acquisition, the implementation
of technical, safety, environmental and social standards and
permitting.
TAP will be one of the largest sources of foreign direct
investment in Greece, and is estimated to cost approximately Euro 1.5 bn for the
Greek section. During construction, TAP is anticipated to create some 2,000
direct, and up to 10,000 indirect, new jobs across a number of industries
including manufacturing and utilities, transport, communications and financial
and business services. The project already collaborates with a number of Greek
businesses and experts, and will seek to expand such cooperation in line with
its commitment to Local Content.
TAP will enhance Europe’s energy
security and diversity by providing a new source of gas. The pipeline will
transport natural gas from the giant Shah Deniz II development in Azerbaijan,
through Greece and Albania to Italy, from where it can be transported further
into Western and Central Europe.
The longest section of the TAP pipeline
will be in Greece. The pipeline will start at Kipoi at the Turkish-Greek border,
and will cover some 550km entering Albania northwest of Dipotamia. As such, the
project will support Greece’s ambition of becoming an important "Energy
Highway." Furthermore, the planned interconnection points and reverse flow
capability of TAP will also support security of supply for other countries in
the region.
Kjetil Tungland, TAP's Managing
Director, stated: "We have now all necessary political
agreements in place for the Shah Deniz decision. I remain absolutely confident
that our proposal is the strongest from the technical, commercial a nd political
points of view, with the overwhelming support of the host governments. I would
like to also thank the Greek Government in particular for making this incredible
achievement possible and also for their continuing political support to
TAP.”
Rikard
Scoufias, TAP’s Country Director for Greece, added: “Concluding
on the contents of this agreement has required a significant amount of work from
both parties. This achievement has resulted not only in an important component
for securing Greece’s and TAP’s bid for the Southern Gas Corridor, but also
constitutes an international benchmark for expediency in terms of establishing a
positive investment climate. With the support provided by the Greek Government,
as well as the Greek Parliament, I feel that we are well on our way to deliver a
project that will have notable positive impact on Greece, the region as well as
European energy objectives.”