EU regulators clear Greece, TAP gas pipeline deal
European Union regulators approved on Thursday a deal between Greece and the Trans-Adriatic Pipeline (TAP) which will bring gas from Azerbaijan to Europe, saying the project was in line with the bloc’s state aid rules.
The 870-km (540-mile) pipeline, which will link Azerbaijan’s giant Shah Deniz II field with Italy, crossing through Turkey, Greece, Albania and the Adriatic Sea, is the largest project to bring new supplies to European consumers.
“The Trans Adriatic Pipeline will bring new gas to the EU and increase the security of energy supply for Southeast Europe,” European Competition Commissioner Margrethe Veestager said in a statement.
“The investment incentives offered by the Greek Government are limited to what is necessary to make the project happen and in compliance with state aid rules.”
As part of the Greek deal, TAP will be granted a specific tax regime for 25 years. TAP is owned by BP, Azeri state energy firm SOCAR, Snam, Belgian company Fluxys , Italy’s Enagas and Axpo.
You may be interested
Coronavirus Greece: 2,215 new cases, 451 intubated, 32 deathsmakis - Mar 05, 2021
Greece announced that the new laboratory-confirmed cases of coronavirus recorded in the last 24 hours are 2,215, of which 15…
Great city routes to explore on foot in AthensPanos - Mar 05, 2021
Athens reveals its best charms to those who put one foot in front of the other! Whether you’re looking to…
Jerusalem Post: Turkey tries insulting Egypt, Greece in imaginary maritime deal – AnalysisPanos - Mar 05, 2021
Turkey has invented a new “reconciliation,” after attempts to spread propaganda stories of “reconciliation” with Israel failed last year. In…