ECONOMY

Greek construction firm Aktor taking part in TAP

greek-construction-firm-aktor-taking-part-in-tap

Blue chip firm Ellaktor announced on Monday in a bourse filing that its unit Aktor is participating in the construction of one of three sections of the Trans Adriatic gas pipeline (TAP) in Greece.

The project will be completed in about two years. Aktor forms part of a consortium with French Spiecapag to implement construction of the first section of TAP in northern Greece.

Construction works for TAP are planned to begin in May, Azeri state gas company SOCAR CEO Rovnag Abdullayev told ANS TV on Sunday.

The construction work on TAP had been expected to start in March but the date was moved on the Greek government’s request, he added.

The TAP project aims to transport gas to Europe from Azerbaijan’s Shah Deniz II field in the Caspian Sea, one of the world’s largest gas fields, by the end of the decade.

TAP’s shareholders are BP, Azeri state company SOCAR, Snam, Fluxys, Enagas and Axpo.

[Reuters]