Caspian Report - Issue: 07 - Spring 2014

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Matteo Verda 22 CONTRIBUTION OF Trans Adriatic Pipeline TO THE ITALIAN ECONOMY Matteo Verda SENIOR FELLOW, CENTER ON ENERGY AND ECONOMY, HASEN
The decision of building the Trans Adriatic Pipeline (TAP) represented a major breakthrough in the development of the European natural gas system. The decision of building the Trans Adriatic Pipeline (TAP) represented a major breakthrough in the development of the European natural gas system. The pipeline will eventually materialise the Southern Gas Corridor, after a decade of public discussion but no actual investment decision, and it will allow a muchawaited diversification of the European import routes. TAP is indeed designed to transport the natural gas coming from the field of Shah Deniz, in the Caspian offshore, to the EU final markets. TAP is not a stand-alone pipeline, but it is the final branch of a composed infrastructural system which will include the South Caucasus Pipeline (SCP) and the Trans Anatolian Natural Gas Pipeline (TANAP). SCP is an already existing pipeline, running for 700 km from the Azerbaijani production facilities through Georgia, up to the border with Turkey. SCP will be upgraded to transport additional volumes, through the laying of a second line along the same route of the existing one. TANAP will be the second section of the infrastructure and it will transport Azerbaijani natural gas across Turkey, following a new route of 1.700 km. TANAP will end at the border with Greece, where TAP will start. 1 This last section will run across Greek and Albanian territory, with a secondary branch directed from Greece to Bulgaria. TAP’s main destination will be the Italian market, which will be the largest and most important gas market connected to the pipeline. Despite a protracted crisis, indeed, in 2013 Italy consumed approximately 70 billion cubic metres (bcm), remaining the second gas market in continental Europe after Germany. 2 TAP will be a 760 km-long pipeline and its estimated construction costs amount to 5,7 billion euros, mainly concentrated in Greece and in the offshore between Albania and Italy. After its commissioning, TAP is expected to work for at least fifty years and the greatest share of its capacity will be devoted to supply the Italian gas system. In fact, out of a capacity of 10 bcm per year, 8 will be marketed in Italy. As a consequence, the long term impact of the pipeline will be mainly concentrated in that country. 23 CASPIAN REPORT, SPRING 2014 1. See TANAP website (http://www.tanap.com/en/) (accessed 30/04/2014). 2. See Eurogas, Drop in 2013 EU gas demand emphasises need for swift change, 18/03/2014.
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With Russia’s President Vladimir
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Frank Umbach 74 During the last thr
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Frank Umbach 76 approved by the gov
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Shale gas drilling rig. Frank Umbac
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THE IMPORTANCE OF TAP FOR ITALY SOM
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AntonIo SIleo 82 the end of 2011, g
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AntonIo SIleo 84 Power generation o
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ily limited because of the emergenc
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AntonIo SIleo 88 ductant chemical r
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AntonIo SIleo 90 emerge as a signif
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Radu Dudau 92 Romania’s Energy St
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Radu Dudau 94 countries pay for Rus
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Radu Dudau 96 This industry, howeve
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Radu Dudau 98 de facto monopolies i
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Radu Dudau 100 In October 2013, the
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Radu Dudau 102 In spite of the ling
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caspian
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Why World Oil Prices Should Be High
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Luay Al-Khatteeb 108 for $1 of reve
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emın akhundzada 110 Turkey as an E
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emın akhundzada 112 markets. Given
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emın akhundzada 114 First, it shou
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FatIh Ozbay 116 Discussions about V
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FatIh Ozbay 118 The Black Sea is a
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FatIh Ozbay 120 these two countries
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FatIh Ozbay 122 Montreux is quite s
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MUbarIz Hasanov 124 Some Remarks on
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Turkey will be USD 37 billion highe
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Caspian Report - Issue: 07 - Spring 2014

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