BP

“bp” has decided to hold a 25 percent equity share in the Shallow Water Absheron Peninsula (SWAP - Shallow Water Absheron Peninsula) project in Azerbaijan with a belief that this will enable the company to evenly distribute its investment potential in Azerbaijan and to redeploy capital to other areas of its business in line with the company’s strategy, bp Azerbaijan stated.

The Ministry of Energy of the Republic of Azerbaijan and bp today signed a Memorandum of Understanding to cooperate in assessing the potential and conditions required for large-scale decarbonized and integrated energy and mobility systems, including renewable energy projects in the regions and cities of Azerbaijan, Trend reports citing bp.

The Trans Adriatic Pipeline (TAP) will soon see the start of laying pipes on bottom of Adriatic Sea, "Trend.az" reports citing the TAP AG consortium.

Activities are in full swing on board the "Castoro Sei" pipe-laying barge of Italy’s "Saipem" company, which is the contractor of the project, said the consortium.

"This offshore "moving assembly line" with up to 340 people on board is welding pipes and will shortly start laying them on the bottom of the Adriatic Sea", reads a message.

Northern Macedonia intends to build a gas pipeline to connect with Bulgaria to gain access to Azerbaijani gas, Trend.az reports, citing the “Central European Financial Observer”.

According to the announcement, representatives of the chambers of commerce and industry of Northern Macedonia and Bulgaria, have come up with a common initiative to build a gas pipeline, that will connect the town of Strumica with the neighboring Bulgarian town of Petrich.

Croatia expects to receive about 2.5 billion cubic meters of natural gas per year through the Ionian-Adriatic Pipeline (IAP), which is to deliver Azerbaijani gas to Europe. This was stated to a reporter of Trend.az at the Croatian Ministry of Environment and Energy.

The Trans Adriatic Pipeline (TAP) and Ionian-Adriatic Pipeline (IAP) are strategic projects that can ensure diversification of transportation routes and gas supply security for Croatia, “Trend.az” reports with reference to the draft energy development strategy of Croatia until 2030, published by the country’s Ministry of Environment and Energy.

Azerbaijan will become Italy’s largest energy supplier with commissioning of the Trans Adriatic Pipeline (TAP), the final leg of the Southern Gas Corridor, said Azerbaijan’s ambassador to Italy Mammad Ahmadzade, “Trend.az” reports.

He said in an interview with Askanews that 2019 was an important year, as TAP’s construction in Italy continued and the final permissions for the project’s implementation were acquired.