EU approved building a gas pipeline across the Adriatic Sea

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The European Commission (EC) confirmed that the agreement on construction of the Trans-Adriatic gas pipeline, signed by Greece with the company Trans Adriatic Pipeline AG, complies with the legislation of the European Union (EU). This is stated in the EC report.

“Today’s approval of the agreement on the Trans-Adriatic gas pipeline is an important step towards the implementation of the Southern Gas Corridor project, which is a key project for the EU’s energy security, opening new sources of gas for Europe,” – said the deputy chairman of the European Commission Maroš Šefčovič, who is responsible for the EU energy policy .

It was reported that the construction of the gas pipeline will be financed by private investors, and a special tax regime, provided by the agreement, would not have a significant negative impact on the competition on the EU gas market.

The EU officials expect that the supply of gas through the new pipeline will begin in 2020. Trans-Adriatic Pipeline will run through the bottom of the Adriatic Sea from the border of Greece via Albania to Italy.

In February, the Bulgarian Parliament rejected the proposal of the opposition party “Attack” to resume working on the “South Stream” project.

Source: RBC.ua