TAP agreement in Greece a signal to investors, energy ministry notes

The settlement of all outstanding issues at this preliminary stage of the TAP (Trans Adriatic Pipeline) project within the statutory time limits is a clear signal to the international investment community and all other interested parties on the ability of the Greek government to solve problems in a mutually beneficial way, the energy ministry has announced.

The next stage of the TAP project, whose construction work for the local segment running across northern Greece is set to begin, promises to have a multiplying effect by providing both direct and indirect employment during its development, bolstering local communities in and around the regions to be crossed by the natural gas pipeline, and contributing to the national economy as a result of sub-contracts offered to Greek companies, the  ministry noted.

Energy Minister Panos Skourletis updated his EU peers on the project’s local developments at an energy council meeting in Brussels late last week. European Commissioner for Climate Action and Energy Miguel Arias Canete was also updated by Skourletis.

The local energy ministry and the TAP consortium reached a deal slightly over a fortnight ago on pending issues concerning local interests. It includes improved compensation packages to the Greek state for forest areas and public land required for the pipeline’s development, settlement of local environmental concerns, and increased  investment amounts by the consortium for various local projects along the pipeline’s route, as part of its corporate social responsibility program.

The TAP pipeline will run across nothern Greece, through Albania, and reach Italy via the Adriatic Sea to supply Azeri natural gas to central Europe.