other investment projects, such as the
Interconnector Greece-Bulgaria (IGB), which will
transport Azeri gas from the TAP to Bulgaria.
Another project is the South European Pipeline
(SEP), the continuation of Turkish Stream, which
will carry Russian gas to Italy through Turkey and
Greece. Moreover, the Greco-Italian natural gas
pipeline project was recently revived by the sign-
ing of a memorandum of understanding by ener-
gy companies DEPA, Edison, and Gazprom.
Another grand investment project is that of the
East Med pipeline, which will transport natural
gas from Israel and Cyprus to Greece, Italy and,
subsequently, to the EU.
In terms of diplomacy and preparation, however,
both the SEP and East Med projects still have a
long way to go. As far as the IGB is concerned,
the market test would be completed by the end of
March, in order to check the project’s feasibility.
The TAP pipeline has a length of approximately
878 km, will be linked with the Trans Anatolian
Pipeline (TANAP) near Kipi at the Greco-Turkish
border, and will land on the coast of South Italy,
after crossing Greece, Albania, and the Adriatic
Sea. The investment that will be made on Greek
territory is estimated at 1.5 to 2 billion euros and
will create 8,000 new jobs.
TAP’s routing may facilitate the supply of natural
gas to many South-eastern European countries,
including Bulgaria, Albania, Bosnia-Herzegovina,
Montenegro, Croatia etc. The arrival of the
pipeline to the Italian shore offers many possibili-
ties for the further transportation of Caspian gas
to some of the largest European markets, such as
Germany, France, the United Kingdom,
Switzerland, and Austria. The first sales of natural
gas to Georgia and Turkey have been scheduled
for late 2018, to be followed by the first shipments
to Europe in early 2020.
Construction work is expected to begin this sum-
mer, and the joint venture has already signed con-
tracts for the preparation of studies and the con-
struction of pipeline segments in Greek territory.
The Southern Gas Corridor, which includes TAP,
is one of the most complex gas pipeline systems
ever constructed. With a length of more than
4,000 km, it will be passing through seven coun-
tries, and its construction will involve more than
twelve major energy companies. It consists of a
large number of individual energy projects, repre-
senting a total investment of almost USD45 bil-
lion, i.e.:
• The second stage of development of the Shah
Deniz field, comprising drillings and offshore
gas production platforms in the Caspian Sea.
• The extension of natural gas processing facili-
plied by Russia’s Gazprom. TAP shareholders are
BP (20%), SOCAR (20%), Snam S.p.A. (20%),
Fluxys (19%), Enagás (16%) and Axpo (5%).
The construction of this pipeline places Greece
dynamically in the global energy map, turning the
country into a hub for the transportation of natural
gas from the East to the West. TAP is a much
more mature project than those promoted by
multinational companies, in which Greece also
seeks to play a role. Greek Environment and
Energy Minister Panos Skourletis said that the
country is pursuing a “multidimensional energy
sector policy” and, under this doctrine, Greece
participates in, and encourages the promotion of
Trade with Greece
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