Azeri president says investors discussing expansion of TAP gas link

Fluxys Belgium SA

02/09/2022 11:54

CERNOBBIO, Italy, Sept 2 (Reuters) - Talks have begun among
shareholders in the Trans-Adriatic pipeline (TAP) to expand its
capacity, Azerbaijan's President Ilham Aliyev said on Friday,
saying quick progress was necessary for his country to be able
to boost gas exports to Europe.
    Azerbaijan owns 20% of TAP with other shareholders
comprising BP  BP.L , Snam  SRG.MI , Fluxys  FLUX.BR  and Enagás
 ENAG.MC .
    "Yes. We already started practical negotiations," he said
when asked if an expansion was being discussed.
    Speaking at the annual Ambrosetti business forum on Italy's
Lake Como, Aliyev said Azerbaijan needed TAP's capacity to grow
to comply with an accord to double gas exports to Europe over
the next five years.  urn:newsml:reuters.com:*:nS8N2VR04I
    "With the European Commission we agreed by 2027 to increase
the exports of Azerbaijani gas to Europe two times, up to 20
billion cubic metres. Without the expansion of TAP it won't be
possible," he told reporters on the sidelines of the conference.
    "We should plan a joint investment project and do it very
soon," he added.
    Aliyev said Italy had received 11.7 billion cubic metres of
the overall 13.5 billion cubic metres of gas exported by
Azerbaijan in the year-and-a-half since it first started exports
to Europe.
    He said gas exports to Italy would reach nearly 10 billion
cubic metres this year.
    "It is much more in comparison with last year but for more
gas we need to expand the capacity of TAP from 10 to 20 billion
cubic metres," he said.  

 (Reporting by Valentina Za and Elvira Pollina
Editing by Keith Weir)
 ((valentina.za@thomsonreuters.com; +39 02 6612 9526;))