Italian Parliament approves law on the Agreement between Italy, Greece and Albania on TAP

Baar, Switzerland. Today the Italian Parliament approved the ratification law on the tri-lateral Intergovernmental Agreement (IGA), following the signing of an IGA between Italy, Greece and Albania on the Trans Adriatic Pipeline (TAP) project on the 13th of February 2013.

The IGA solidifies a range of key commitments by Italy, Greece and Albania to the forward development, construction and operation of the TAP pipeline. Within the framework of the Community Treaties and the Energy Community Treaty, the IGA will ensure that the states cooperate on the timely delivery and efficient operation of the TAP pipeline.

Kjetil Tungland, TAP’s Managing Director, said: “I would like to thank the Italian Parliament and Government for their support and dedication resulting in this important approval of the ratification law today. This is a key milestone that has been achieved ahead of the Shah Deniz Final Investment Decision later this year. The IGA provides long term security for the project to move forward towards construction and in making the TAP project a reality.”

Michael Hoffmann, TAP’s External Affairs Director, stated: “The approval of the ratification law on the IGA further reinforces the host governments’ support for TAP from a legal and regulatory perspective. For TAP, this puts in place the final high level international political agreement, and provides Shah Deniz with further reassurance prior to its final investment decision, expected at the end of this year.”

Giampaolo Russo, TAP Italy Country Manager, said: “I would like to thank all those involved for their support and commitment in securing this important agreement. We are pleased with our collaboration with the Italian Republic and we look forward to continuing our strong cooperation in the same spirit of open dialogue and joint efforts that this project can bring to Italy and her citizens.”

TAP is the final part of a 3,500km set of pipeline projects being developed to transport Shah Deniz Phase II gas to Europe landing in Southern Italy. The Trans Adriatic Pipeline is being developed according to the highest international standards and will bring significant foreign direct investment and jobs associated with the construction of this major pipeline across the entire value chain.

energjia.al 05.12.2013