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21.08.2015 09:46

"TAP, Turkish Stream pipelines are not rival projects", Greek Energy Minister

Trans-Adriatic (TAP) and the Turkish Stream gas pipelines are not rival projects and both projects contribute to energy diversification, Greek Energy Minister Panos Skourletis told Sputnik.

Both projects are of special importance as they are designed to guarantee the energy security of Europe, which needs to be based on diversification of energy supply roads," Skourletis said.

He noted that Greece currently supports two large energy projects-TAP and Turkish Stream. The Trans Adriatic Pipeline will transport Azerbaijan's natural gas to Europe and the Turkish Stream Pipeline, with an annual capacity of 63 billion cubic meters, will run from Russia to Turkey beneath the Black Sea, with an extension continuing through Greek territory, he added.

TAP's shareholders in this project are: BP (20 percent), SOCAR (20 percent), Statoil (20 percent), Fluxys (19 percent), Enagas (16 percent) and Axpo (5 percent).

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