Bernitsas Law advises on Trans Adriatic Pipeline AG (TAP) Project
Bernitsas Law advised a consortium of international financing institutions including the European Investment Bank and the European Bank for Reconstruction and Development on the project financing of Trans Adriatic Pipeline‘s development of a c.871km gas pipeline connecting to the Trans-Anatolian Natural Gas Pipeline from the Greek Turkish border and running through Greece and Albania to Italy, connecting with the Italian natural gas distribution system near San Foca under the sponsorship of AzTap GmbH, Snam Spa, BP Gas Marketing, Fluxys Europe Enagas Internacional, SLU and Axpo Trading.
The pipeline aims to be an efficient, secure, stable and predictable pipeline system originating from the Greek borders with Turkey and progressing onwards across Greece and Albania and subsea across the Adriatic Sea to Italy and will be utilised for the transport of natural gas from Shah Deniz II field in Azerbaijan for delivery into markets within Italy. This project is of strategic importance as it will enable Greece to strengthen its position as a core transit country for the EU’s energy security and diversity of supply objectives. With an estimated value of Euro 6.2 bn., it is the largest energy project by size to be realised in the course of the last decades.
Yannis Seiradakis led the Bernitsas Law Energy and Projects teams and Athanasia Tsene led the Finance team.