Turning on TAP: Trans Adriatic Pipeline completes Europe’s Southern Gas Corridor
Report summary
Table of contents
- Executive summary
-
TAP has been years in the making
- Ownership structure is well-aligned for reliable operations
- A successful construction phase, but it wasn’t all plain sailing
- A commercially attractive infrastructure investment
-
TAP is the final outlet for Shah Deniz gas
- TAP extends Azerbaijan’s gas export reach beyond Turkey
- But upstream value, at least initially, is driven by condensate sales
- Re-escalation of Azerbaijan-Armenia conflict is a background risk
-
TAP will reshape gas markets in southern Europe
- Piped gas is essential to meet Italian demand
- TAP carves out a distinctive path, with a diverse group of offtakers
- For Italy, a milestone for the PSV hub and south-to-north flows
- For Bulgaria and Greece, a major shift for concentrated gas markets
-
What next? TAP expansion plans are at top of future agenda
- TAP expansion outlook will be confirmed in 2021
- Russian gas may supply expansion, with no option a perfect strategic and economic fit
- TAP expansion should be attractive, including for its initial shipper
Tables and charts
This report includes 7 images and tables including:
- TAP overview
- TAP: key figures
- Netbacks on Shah Deniz gas sales to Italy
- Italy gas supply-demand balance
- GSAs for TAP gas
- ACQ of key gas importers into Italy
- Southern Gas Corridor capacity expansion plans
What's included
This report contains:
Other reports you may be interested in
16 December 2019
Caspian upstream: 5 things to look for in 2020
Caspian upstream: 5 things to look for in 2020
From Azerbaijan to Central Asia, will the Caspian upstream sector deliver on its big plans?
$1,35016 November 2020
Trans-Anatolian Pipeline (TANAP)
Trans-Anatolian Pipeline (TANAP)
The Trans-Anatolian Pipeline (TANAP) extends across Turkey and is a central part of Europe's Southern Gas Corridor. It will ...
$4,40012 June 2018
Trans-Anatolian Pipeline (TANAP) commissioning: five things to know
Trans-Anatolian Pipeline (TANAP) commissioning: five things to know
TANAP commissioning: what are the five key things to know?
$1,350