StatoilHydro takes place at TAP table

Laying pipe plans: StatoilHydro

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Anthea Pitt

 12 February 2008 18:03 GMT

Norwegian producer StatoilHydro and Swiss outfit EGL Group are poised to set up a 50:50 joint venture to develop, build and operate the Trans Adriatic Pipeline (TAP), which will bring natural gas from the Caspian Sea to Europe.



The pair will sign the deal tomorrow.

The 520-kilometre pipeline will transport gas via Greece and Albania and across the Adriatic Sea to Italy’s southern Puglia region. From there, it will extend into western Europe.

The link will be able to carry about 10 billion cubic metres of gas per annum, with the option to expand to 20 billion cubic metres. TAP is expected to be operational at the earliest from 2011, depending on the gas shipment needs.

StatoilHydro said the project is subject to a final investment decision planned for the…

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