TAP welcomed the signing of a host government agreement for the pipeline by the Albanian government. The agreement spells out the terms of land easement, acquisition and other permitting regulations.
"We would like to thank the Albanian government for their continuing support in realizing today's agreement and look forward to working closely with them in realizing TAP, and all of the benefits it will bring for Albania," TAP Managing Director Kjetil Tungland said in a statement.
TAP said it's one of the largest sources of foreign investments in Albania. TAP would extend from the Turkish border through Greece and Albanian before it crosses the Adriatic Sea. It's designed to carry 350 billion cubic feet of natural gas per year but could expand as the project evolves.
TAP is up against the overland Nabucco West pipeline, a more ambitious project planned from the Turkish border. The BP-led group controlling the Shah Deniz II natural gas field offshore Azerbaijan is expected to make a decision between the two projects by June.
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