Greece, Italy, Albania ink gas deal to secure European energy supplies

Fourth Estate Cooperative Staff

Athens, Greece (4E) – In order to establish the safety of energy supply, three European nations Wednesday signed a gas pipeline deal to bring natural gas from the Caspian Sea to Europe.

The inter-governmental Trans Adriatic Pipeline (TAP) agreement was signed between the foreign and economic ministers of Greece, Italy and Albania in Athens in presence of representatives from Azerbaijan and the TAP consortium.

Talking to reporters after the agreement, Greek Prime Minister Antonis Samaras said, “The common interests of the three countries and the development of the opportunities that are on offer…can have very favorable consequences that will go beyond the region.”

Around 800km long pipeline will be based in Greece that will attract 2,000 job opportunities. Greece is expected to invest $2 billion on the project.

Under the TAP project, European nations are trying to create an alternate southern route for natural gas via the Caspian Sea to avoid energy giant Russia, which blocked gas deliveries to Europe twice in past six years. Europe becomes a victim because of Russia-Ukraine gas dispute.

The TAP will allow gas to be transported from BP-operated Azerbaijan’s Shah Deniz II field to Albania and northern Greece. Later, the pipeline would go underwater from where it would cross the Adriatic and reach southern Italy.

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