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
13 June 2025
US policies may have lasting effects in sectors such as energy, that rely on predictable rules and long-term planning
13 June 2025
The two oil heavyweights’ diverging fiscal considerations are straining unity within the group
13 June 2025
CEO argues the upstream potential remains huge as analysts question future oil production for Canadian province’s offshore industry
13 June 2025
The country is facing energy shortfalls this summer amid reduced Iranian gas imports and difficulties leasing an FSRU