The Trans Adriatic Pipeline AG (TAP) has announced changes in its leadership and appointed Walter Peeraer as its new President and Luca Schieppati as its new managing director, both starting on
June 27, 2017
.
Both have more than twenty years experience in the gas sector. Peeraer joins TAP as ex Managing Director and Board Member of Belgium gas transmission assets management company, Fluxys S.A, whereas Schieppati was chief industrial assets officer of Snam – the largest natural gas utility in Europe. Both Snam and Flyxys S.A own 20% and 19% of TAP shares respectively.
Joe Murphy, Chairman of TAP’s Board of Directors expressed his support for the new appointees, underlined the important phase the TAP project is entering now.
“I’m very pleased to have Luca and Walter leading TAP at this critical phase. With construction continuing across all three countries, the project is entering an important new phase and I’m confident that their many years of experience and deep expertise will be essential in safely and successfully delivering this project for the European gas customers”, he was quoted as
saying.
The TAP project is economically very significant for Azerbaijan as it will allow Azerbaijani gas to reach European markets and bypass Russia. It will supply gas from Azerbaijan’s Shah Deniz gas field to Italy and further into Europe.
Once finished,
TAP
will be 878 kilometers long, of which 550 km in Greece, 215 km in Albania, 105 in the Adriatic Sea and 8 km in Italy.
At the moment, construction is underway in all three countries and earlier this month pipes shipment to Albania was
completed
. TAP is expected to start operations in
2020
.
TAP’s shareholding is comprised of BP (20%), SOCAR (20%), Snam S.p.A. (20%), Fluxys (19%), Enagás (16%) and Axpo (5%).
