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TAP, IGB to Advance Regional Stability and Prosperity, John Kerry says

The U.S. applauds the Greek government for moving forward on the Trans Adriatic Pipleine (TAP) and the Greece-Bulgaria Interconnector (IGB), U.S. Secretary of State John Kerry said at the joint press conference with Greek Foreign Minister Nikos Kotzias in Athens, said the message published on the U.S. Department of State website.

"We all know that in the 21st century, countries have to look beyond their borders in order to carve out a strong position in the global marketplace. It's no longer satisfactory to trade within a nation or just within a few nations. It is a global marketplace, and it is a competitive one at that," Kerry said.

"That is why the United States is enthusiastic about Greece's growing role in European energy security," he added.

Kerry noted that both TAP and IGB are very important energy projects, and they will not only strengthen Greece's economy, but they will help advance regional stability and prosperity.

"These projects will also create, I am confident, new opportunities for United States investment in Greece," said Kerry.

IGB is a gas pipeline, which will allow Bulgaria to receive Azerbaijani gas, in particular, the gas produced from Azerbaijan's Shah Deniz 2 gas and condensate field. IGB is expected to be connected to the Trans Adriatic pipeline via which gas from the Shah Deniz field will be delivered to the European markets.

TAP will begin construction next year and the overall construction phase will take approximately 3.5 years. TAP's initial capacity will be 10 billion cubic meters per year, expandable to 20 billion cubic meters per year.

Source: Trend

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