Regional governments officials sign cooperation agreement in Trans-Adriatic and Ionic-Adriatic pipelines projects

Tirana, Albania (24 May 2013) – Montenegrin Deputy Prime Minister Igor Lukšić and high government officials of Bosnia and Herzegovina, Albania and Croatia signed the memorandum on cooperation in the implementation of projects concerning the Trans-Adriatic Pipeline (TAP) and the Ionic-Adriatic Pipeline (IAP) in Tirana on Thursday.

The Memorandum obliges the contracting parties to provide support for developing, funding and implementing the TAP and IAP projects, preparing internal markets to receive gas from Azerbaijan and the Caspian region, as well as for the interconnection of the IAP with the TAP. The contracting parties pledged full support for the TAP And IAP projects, thus supporting the goal of the European Union related to the diversification of transport routes and safety of gas supply in Europe.

Ionic-Adriatic Pipeline project is aimed at establishing the gas network connecting the Balkan’s countries. The pipeline is envisaged to link Fier in Albania to Spilt in Croatia, passing through the territories of Montenegro and Bosnia and Herzegovina. The pipeline is to be 530 km long, and the total investment is estimated at EUR 610.5 million. The Energy Strategy of Montenegro has recognised the IAP project as a leading option for the gasification of Montenegro and the chance for the sale of its own gas which is expected to be discovered in the coastal zone of the country.

Trans-Adriatic Pipeline is 520 km long, which enables the transport of gas from the Caspian Sea through Greece, Albania, the Adriatic Sea and Italian region of Puglia into the Western Europe. The project aims to increase security of the supply and the diversification of gas supply for European markets.

Ionic-Adriatic Pipeline interconnection with the Trans-Adriatic Pipeline opens up possibilities for supplying Balkans’ countries with gas from Azerbaijan and the Caspian region, which leads to further improvement and diversification of gas supply, advancement of gas infrastructure in the Balkans and implementation of similar projects.