The European Investment Bank on Tuesday approved a 1.5-billion-euro loan for the Trans-Adriatic Pipeline to bring new gas supplies to Europe and reduce dependence on Russia, a spokesman for the EIB told Reuters.
Connecting with the Trans Anatolian Pipeline (TANAP) at the Greek-Turkish border, TAP will cross Northern Greece, Albania and the Adriatic Sea before coming ashore in Southern Italy to connect to the Italian natural gas network.
The project is currently in its construction phase, which started in 2016.
Once built, TAP will offer a direct and cost-effective transportation route opening up the vital Southern Gas Corridor, a 3500-kilometre long gas value chain stretching from the Caspian Sea to Europe.
878 kilometres in length, TAP's highest elevation will be 1,800 metres in the mountains of Albania while its lowest depth offshore will be 820 metres beneath the Adriatic Sea.
Anticipating future needs, TAP's developers integrated flexibility into the pipeline design to accommodate future gas volumes. TAP's initial capacity of 10 billion cubic metres (bcm) of gas per year is equivalent to the energy consumption of approximately seven million households in Europe. In future, the addition of two extra compressor stations could double throughput to more than 20 bcm as additional energy supplies come on stream in the wider Caspian region.
The pipeline will also have the so-called 'physical reverse flow' feature, allowing gas from Italy to be diverted to South East Europe if energy supplies are disrupted or more pipeline capacity is required to bring additional gas into the region.
Along its route, TAP can facilitate connections to a number of existing and proposed pipelines, ensuring that the Southern Gas Corridor opens up to many different energy markets. This will enable the delivery of Caspian gas to destinations throughout South Eastern, Central and Western Europe.