Turning on TAP: a shift in the European gas landscape
While pressure mounts on the EU to reduce its reliance on Russian gas supplies, Brussels’ most ambitious supply diversification project, the Southern Gas Corridor, is nearing completion with the launch of its final stretch, the TAP pipeline, close at hand. Initially delivering 10Bcm per year of Azeri gas annually to Italy, Greece and Bulgaria, the volumes involved may seem small. But TAP will still have an impact on the receiving markets. This report analyzes the changes that Italy and Central and Eastern Europe will see in the short and long term.