Tap on track
The Caspian gas pipeline to feed into Europe has secured its project financing
The completion of the €3.9bn project financing for the Trans-Adriatic Pipeline (Tap) has, after a tortuous gestation, paved the way for the final stage of the southern gas corridor (SGC) route into Europe from Azerbaijan to be completed on time in 2020. The Tap project, designed to handle 10bn m³/yr of Azeri gas, has suffered a host of complications since the consortium building it won the bidding process in 2013 to take gas from the Turkish/Greek border across Greece and Albania, then under the Adriatic to Italy. A changing pool of shareholders, the complex web of legal and political agreements required and, more latterly, objections to the pipeline in Italy, have slowed development. The f
Also in this section
23 January 2026
A strategic pivot away from Russian crude in recent weeks tees up the possibility of improved US-India trade relations
23 January 2026
The signing of a deal with a TotalEnergies-led consortium to explore for gas in a block adjoining Israel’s maritime area may breathe new life into the country’s gas ambitions
22 January 2026
As Saudi Arabia pushes mining as a new pillar of its economy, Saudi Aramco is positioning itself at the intersection of hydrocarbons, minerals and industrial policy
22 January 2026
New long-term deal is latest addition to country’s rapidly evolving supply portfolio as it eyes role as regional gas hub
