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Fluxys signals strong interest to join TAP

17 Ιούνιος 2013

European gas infrastructure group Fluxys is considering taking a shareholding in the Trans Adriatic Pipeline (TAP) project.

Discussions between Fluxys’ and TAP’s shareholders began in 2012. These negotiations are proceeding with a view to include Fluxys as a shareholder in TAP shortly after the Shah Deniz Consortium has decided on the preferred European route to bring gas from Azerbaijan.

Fluxys is a major gas transit operator in Europe with activities in six countries and counts among the few operators combining gas transmission, gas storage and terminalling of liquefied natural gas (LNG). Fluxys and TAP are confident they will be able to finalise the necessary arrangements for Fluxys to join TAP by August 2013 subject to TAP being selected by Shah Deniz as preferred European pipeline route.  This once again signals confidence in TAP by a major player in the European energy industry.

Commenting Kjetil Tungland, TAP’s Managing Director, said: “I am delighted that Fluxys is looking to join the TAP project. Their involvement in TAP fully underlines that TAP is a European Project and truly demonstrates that TAP can transport Shah Deniz gas to Western markets beyond Italy. This in turn, further contributes to Europe’s security of supply.”

Walter Peeraer, Managing Director Fluxys, said: “Becoming a partner in TAP would be a further step in our strategy of bridging the markets to foster security of supply and market liquidity in Europe. Through our partnership with Snam and our project to enable south-to-north flows from Italy to Switzerland and Germany, Azeri gas from the TAP pipeline could be moved straight into the North Western European markets.”

About the Trans Adriatic Pipeline (TAP) 

TAP will connect with the Trans Anatolian Pipeline (TANAP) near the Turkish-Greek border at Kipoi, cross Greece and Albania and the Adriatic Sea, before coming ashore in Southern Italy. Designed to expand the capacity from 10 to 20 bcm per year, TAP will open up the so-called Southern Gas Corridor, enhancing Europe's energy security by providing a new source of gas.

The pipeline will accommodate the supply of natural gas from Azerbaijan to a wide array of markets in Europe:

  • TAP’s routing can facilitate gas supply to several South Eastern European countries, including Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Montenegro, and others.
     
  • TAP’s landfall in Italy, the third largest gas market in Europe, provides opportunities for further transport of Caspian natural gas to some of the largest European markets such as Germany, France, the UK, Switzerland and Austria.

TAP’s shareholders are Axpo of Switzerland (42.5%), Norway’s Statoil (42.5%) and E.ON of Germany (15%). Shah Deniz Consortium members BP, SOCAR and Total each have options to purchase shares in TAP which if exercised in full would give them a total ownership of 50% of TAP. It is expected that the options will be exercised immediately following selection of TAP in June 2013 as the gas transportation route to Europe.  Currently, BP, SOCAR and Total are participating in the funding of the development of the TAP project.

About Fluxys

​Fluxys is a Belgium-based natural gas infrastructure group operating on the European market. The company is a major gas transit operator and combines gas transmission, gas storage and terminalling of liquefied natural gas (LNG).

Besides its pipeline, storage and LNG terminalling assets in Belgium, Fluxys’ partnerships include ownership in the Interconnector and BBL pipelines linking the UK with mainland Europe, the Dunkirk LNG terminal under construction in France, the NEL and TENP pipelines in Germany and the Transitgas pipeline in Switzerland.
Fluxys is convinced that gas and gas infrastructure will remain core components of an affordable energy mix for tomorrow’s low-carbon economy. To foster the integration of the European natural gas market, the group develops a cross-border infrastructure backbone linking gas sources to markets, bridging the markets and gas trading places and providing security of supply. The company focuses on safe, efficient and sustainable operations, quality services in line with market expectations and creating long-term value for its shareholders.

For more information: www.fluxys.com.
Media enquiries: TAP: media@tap-ag.com
Fluxys: Rudy Van Beurden, +32 2 282 72 30, rudy.vanbeurden@fluxys.com