Greece, Italy Back €1.5B Trans-Adriatic Pipeline

Law360, New York (August 8, 2012, 2:33 PM EDT) -- The governments of Greece and Italy on Wednesday threw their weight behind the €1.5 billion ($1.85 billion) Trans-Adriatic Pipeline, one of two possible export routes BP PLC and Statoil ASA are considering to carry Azerbaijani gas to Europe.

Greek Energy Minister Makis Papageorgiou and his Italian counterpart, Claudio De Vincenti, promised “close cooperation” on the project, which is considered a key piece of Europe's energy puzzle. The pipeline, known as TAP, is jointly owned by Statoil, energy trading firm EGL AG and the gas arm of...
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