TRANSADRIATIC PIPELINE

Hungary, Bulgaria and Romania are preparing an agreement for gas supplies from Azerbaijan, Péter Szijjártó, Minister of Foreign Affairs and Trade of Hungary, said, following the meeting of the ministers of the countries of Organization of Turkic States, Trend reports via Hungarian media.

According to the minister, an agreement has been reached to launch the supply of 100 million cubic meters of gas from Azerbaijan to Hungary this year.

The Trans-Adriatic Pipeline (TAP) will allocate additional 1.2 billion cubic meters of gas from 2026, said Luca Schieppati, TAP Managing Director at the European Gas Conference, Trend reports.

“TAP recently triggered the first level of capacity expansion. The additional 1.2 bcm to be allocated from 2026 will be the initial phase of the process until capacity is reached to 20 bcm per year,” he said.

The State Oil Company of Azerbaijan (SOCAR) has engaged international consulting firms to review its "green" strategy.

This was announced by the representative of SOCAR - Teymur Guliyev at a panel discussion during the seminar "Green hydrogen - a path to decarbonization".

He noted that the process will be completed within six months.

Commissioning of the Trans Adriatic Pipeline (TAP) on time was very crucial, Assistant Secretary of State for Energy Resources Geoffrey Pyatt told Greek media, Trend reports.

He believes that this enabled Europe to successfully pass the winter test.

Pyatt went on to add that liquified natural gas supplies also played an important role in Europe’s energy diversification.

Axpo has agreed the sale of its 5% stake in the Trans Adriatic Pipeline AG (TAP) to TAP shareholders Fluxys and Enagás S.A, it was announced today, Trend reports via the company.

Under the sale and purchase agreement, Belgium’s Fluxys will acquire 1% and Spain’s Enagás 4% of Axpo’s 5% equity stake. Both companies will thus reach 20% ownership of TAP, which includes UK shareholder bp (20%), Azerbaijan’s SOCAR (20%), and Italy’s Snam (20%).

Around 4.875 million megawatt hours were transported through the Greece-Bulgaria gas pipeline (IGB) for the period October 1 - December 31, 2022, the ICGB, the pipeline operator, told Trend.

“In December, just months after the pipeline entered commercial operation, IGB’s capacity reached over 94 percent booking rate. By the end of 2022, there are 11 registered users of the interconnector,” said the company.

Since the launch of the Trans-Adriatic Pipeline (TAP), more than 19.4 billion cubic meters of Azerbaijani gas have been transported to Europe, Azerbaijani Energy Minister Parviz Shahbazov, Trend.az reports via his Twitter publication.
(https://mobile.twitter.com/ParvizShahbazov/status/1609105913272483841 )

He noted that today, December 31, marks two years since the start of gas supplies from Azerbaijan via TAP.

The independent transmission operator ICGB absorbed the last tranche of the long-term loan from the European Investment Bank (EIB) for the implementation of the intersystem gas connection Greece-Bulgaria.

The independent transmission operator ICGB, which operates the Greece-Bulgaria commercial interconnector, has entered into a natural gas transmission contract with the American company Linden Energy LLC. The agreement is for a period of 20 years.

Linden Energy LLC is a US-based company with strategic interests in the regional natural gas market. The company recently finalized an equity stake in one of Bulgaria's largest natural gas suppliers (“Overgas”) and announced plans to build a regasification facility in Albania.

Over 303,000,000 kWh were transferred over the Greece-Bulgaria interconnector in the first days of commercial operation of the facility. The amounts are equal to more than 303 GWh from October 1st to October 9th inclusive.

Carrier ICGB will offer monthly input and output capacity for November on 17/10/2022. The auctions will be held on two leading European platforms - PRISMA and RBP.