Greek Parliament Ratifies Intergovernmental Agreement between Greece, Italy and Albania on the Trans Adriatic Pipeline

April 11, 2013

The Greek Parliament on Tuesday, April 9 2013, ratified the Intergovernmental Agreement (IGA) between Albania, Italy and Greece on the construction and operation of the Trans Adriatic Pipeline (TAP) project. The IGA between the three countries, which was signed in Athens on February 13, 2013, confirms the host countries’ support for TAP and their cooperation for the project’s timely implementation.

The ratification of the IGA by the Greek Parliament continues TAP’s progress in the country, with the project now working on successfully completing the Host Government Agreement (HGA) with Greece. The HGA outlines the parameters of engagement between TAP and the Greek Government, such as permitting process, implementation of technical and safety standards and the land easement procedure.

At 1.5 billion Euros, TAP would constitute one of the largest current Foreign Direct Investments (FDI) in Greece and is expected to create 2,000 directly related new jobs and a further 10,000 peripheral new jobs in the Greek market.

TAP is competing to deliver gas from Azerbaijan into Europe, with a final selection of the gas transportation route expected June 2013 by the Shah Deniz consortium in Azerbaijan. TAP is the only pipeline option that will go through Greece.

SOURCE: TAP Press Office.