BAKU, Azerbaijan, July 13. Spanish Enagas plans to allocate 600 million euros until 2030 (150 million between 2022 and 2026) to projects within the Mediterranean corridor, such as the doubling of the capacity of the Trans Adriatic Pipeline (TAP) to 20 billion cubic metres and the development of infrastructure in Greece, through its affiliate Desfa and in Albania based on the agreement recently signed with the TSO AlbGaz, Trend reports with reference to the company.
Reportedly, the three major linear natural gas infrastructures included in REPowerEU, Enagas is positioned in two of them: the expansion of TAP and the undersea pipeline between Spain and Italy.
As the European section of the Southern Gas Corridor, TAP has the capacity to transport approximately 10 billion cubic meters of gas per annum (bcm/a) to several markets in Europe. The pipeline is also designed with the potential to expand its throughput capacity up to 20 bcm/a.
As a key part of the Southern Gas Corridor, TAP is strategically and economically important to Europe and essential in providing reliable access to a new source of natural gas. TAP plays a significant role in boosting Europe’s energy security, supply diversification, as well as decarbonisation objectives.
TAP’s shareholding is comprised of bp (20 percent), SOCAR (20 percent), Snam (20 percent), Fluxys (19 percent), Enagás (16 percent) and Axpo (5 percent).