Italy, Albania, Greece to sign TAP pipeline accord Friday, say sources

The intergovernmental agreement for the building of the Trans-Adriatic Pipeline (TAP) gas project that will link Italy, Greece and Albania will be signed on Friday, an Italian government source said on Wednesday.

“The signature is imminent, it will be done in New York,» the source said, adding representatives of the three countries would be attending a United Nations meeting.

TAP is one of a number of competing projects to carry gas from Azerbaijan’s Shah Deniz II field to Europe which is keen to reduce its dependence on existing suppliers including Russia.

TAP’s shareholders are EGL of Switzerland (42.5 percent), Norway’s Statoil (STL.OL) (42.5 percent) and E.ON Ruhrgas of Germany (15 percent) E.ONGn.DE.

Italian utility Enel (ENEI.MI) has shown an interest in the project.


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