Enel Confirms TAP Interest

May 4, 2012

Enel's interest in the Trans Adriatic Pipeline, or TAP, project that aims to pump Azeri gas to Italy will boost TAP's chances of being picked as the pipeline of choice, analysts said.

Producers in the Shah Deniz-2 field in Azerbaijan plan to ship about 16 billion cubic meters a year through Turkey into Europe from 2017 or 2018.

"Enel is interested in projects that bring gas to the country," Enel chief executive Fulvio Conti said Wednesday. Asked whether such projects included the TAP, Conti said, "of course."

Europe is keen on getting access to Azeri gas to help reduce dependence on existing suppliers, which include Russia. TAP is co-led by Statoil. Its other stakeholders are Swiss EGL and Germany's E.On Ruhrgas.

(Reuters)

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