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TAP in top 10 of most important projects for world economy

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Date: 6 January 2016 19:52

Baku, Azerbaijan, Jan. 6

By Aygun Badalova – Trend:

Trans Adriatic Pipeline (TAP), via which Azerbaijani gas will be transported to Europe, ranked seventh in the list of the most important investment projects for the world economy, the daily magazine "News of Albania" reported Jan. 6.

The list of projects was prepared by the popular Italian economic newspaper “Il Sole 24 Ore”.

In seven to ten years, the world could face the deepest economic crisis since the World War II, and one of the tools for solving future problems are major investments in infrastructure projects, according to some economists.

The first place in the list was taken by a project for building a magnetic railway that will connect the cities of Osaka and Tokyo in Japan. Construction of the railway is estimated at $38.5 billion, making it the most expensive project in the world.

TAP will transport natural gas from the giant Shah Deniz II field in Azerbaijan to Europe.

The approximately 870 km long TAP will connect with the Trans Anatolian Pipeline (TANAP) at the Turkish-Greek border at Kipoi, cross Greece and Albania and the Adriatic Sea, before coming ashore in Southern Italy.

TAP’s construction is expected to begin in mid-2016.

TAP’s shareholding is comprised of BP (20 percent), SOCAR (20 percent), Snam S.p.A (20 percent), Fluxys (19 percent), Enagás (16 percent) and Axpo (five percent).

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