TAP, Geoplin plinovodi sign memorandum of understanding

Offshore staff

BAAR, Switzerland – The Trans Adriatic Pipeline AG (TAP) and the Slovenian transmission system operator Geoplin plinovodi d.o.o. have signed a memorandum of understanding and cooperation (MOUC) to support the development of natural gas markets in southeast Europe and to enhance security of supply in this region.

Earlier this year TAP concluded MOUCs with Croatian TSO Plinacro Ltd, Bosnia TSO BH-Gas, and the governments of Montenegro and Albania, all of which support the Ionian Adriatic Pipeline (IAP) project.

The TAP consortium, comprised of European energy leaders Statoil, E.ON Ruhrgas and EGL, is proposing to construct a natural gas pipeline via Greece, Albania and Italy to bring Caspian gas to Europe. TAP has entered into individual cooperation agreements with the parties supporting IAP, which is a planned pipeline that will transport natural gas across the territories of Croatia, Albania, Montenegro and Bosnia and Herzegovina. IAP proposes to connect to the TAP project at a point near Fier, Albania.

Given the proximity of the IAP route to Slovenia, the MOUC between TAP and Geoplin plinovodi provides the Slovenian TSO the potential to access new natural gas supplies from the Caspian region via a new transport route. Furthermore, this initiative supports the development of the gas market in Slovenia and the region by bringing gas supplies to meet their growing demand.

Under the terms of the MOUC, Geoplin plinovodi will participate in the TAP-IAP working group. This group evaluates areas of potential cooperation, ranging from the alignment of overall schedules and sharing of best practice, to facilitating the mutual understanding of each project’s technical requirements. This will include capacity needs, new construction and upgrades of existing infrastructure, the coordination of maintenance, and environmental and social impact assessments.

Marjan Eberlinc, CEO of Geoplin plinovodi d.o.o., said: “The signing of an MOUC between Geoplin plinovodi d.o.o. and TAP AG continuously follows the initiatives and plans for the development of security of supply and the gas sector in the wider SEE region. We believe that the Slovenian transmission system could play an integral role in the future development of this gas market.”

09/27/2011