TAP consortium, energy ministry strike pipeline deal

Negotiations between Greece’s Environment and Energy Ministry and the TAP (Trans Adriatic Pipeline) consortium have essentially been completed with the latter agreeing to improve its initial offer’s terms.

According to sources, the TAP consortium has agreed to roughly double the amount offered for various local projects along the pipeline’s route, as part of its corporate social responsibility program. Initially, the amount  offered ranged between 12 million and 16 million euros, but the consortium has now committed itself to providing 32 million euros.

Also, details concerning compensation packages to be offered by the TAP consortium to the Greek state for forest areas and public land required for the pipeline’s development have also been resolved and finalized.

The agreements reached for all these issues, as well as another overcoming local environmental concerns, essentially pave the way for construction work on the TAP project to commence.

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.