Caspan pipeline receives Greek approval

Earlier this week, the Greek Parliament ratified the Host Government Agreement (HGA) signed with the Trans Adriatic Pipeline (TAP) in June 2013. The HGA sets out the framework by which the project will be realised and operated on Greek territory. This includes processes related to land easement and acquisition, the implementation of technical, safety, environmental and social standards and permitting.

Foreign direct investment

TAP will be one of the largest sources of foreign direct investment in Greece, and is estimated to cost approximately € 1.5 billion for the Greek section alone. During construction, TAP is anticipated to create some 2000 direct, and up to 10 000 indirect, new jobs across a number of industries including manufacturing and utilities, transport, communications and financial and business services. The project already collaborated with a number of Greek businesses and experts, and will seek to expand such co-operation in line with its commitment to local contect.

Energy highway

The longest section of the TAP pipeline will be in Greece. The pipeline will start at Kipoi at the Turkish-Greek border, and will cover some 550 km entering Albania northwest of Dipotamia. As such, the project will support Greece's ambition of becoming an important 'Energy Highway'. Furthermore, the planned interconnection points and reverse flow capability of TAP will also support security of supply for other countries in the region.

'Notable positive impact'

Kjetil Tungland, TAP's Managing Director said, "I am delighted that the Host Government Agreement has ratified. I would like to thank the Greek Parliament and Government and all those involved for their dedication, hard work and support, which has resulted in this final milestone being achieved ahead of the Shah Deniz Consortium’s final investment decision later this month. This is a significant step forward in delivering a project that will have notable positive impact on Greece, the region as well as European energy objectives.”

Rikard Scoufias, TAP’s Country Manager for Greece added, “I would like to thank all those involved for their support and commitment in achieving Greece’s victory for the Southern Gas Corridor and ratification of this important agreement. We are pleased with out collaboration with the Hellenic Republic, through hundreds of meetings in Athens, in the regions as well as in local communities. As we are now moving towards construction in the coming years, we look forward to continue that co-operation in the same spirit of open dialogue and joint efforts to secure the benefits this project can bring for Greece and her citizens.”

Adapted from press release by Hannah Priestley-Eaton

Read the article online at: https://www.worldpipelines.com/business-news/06122013/caspan_pipeline_receives_greek_approval/