PRISMA announces the launch of Trans Adriatic Pipeline on the platform
On March 31st, PRISMA European Capacity Platform GmbH and Trans Adriatic Pipeline (TAP) AG have signed an agreement that will open up TAP´s future transportation capacity marketing activities on the PRISMA platform.
Leipzig, April 21, 2020 – On March 31st, PRISMA European Capacity Platform GmbH and Trans Adriatic Pipeline (TAP) AG have signed an agreement that will open up TAP´s future transportation capacity marketing activities on the PRISMA platform, where transmission system operators, storage system operators and shippers market gas capacity at both primary and secondary market levels.
PRISMA’s agreement with TAP is in line with our aim to establish a fair and transparent market by facilitating the integration and security of gas capacity trade. By making the European section of the Southern Gas Corridor available on our platform, PRISMA adds a crucial pathway to ensuring the stability and diversity of energy supplies in Europe.
TAP is an EU Project of Common Interest (PCI), contributing to the consolidation of the European energy market. By making use of the single platform, offering harmonised and common standards and procedures for capacity booking, TAP will help further the integration of European markets.
“TAP joining PRISMA will add an essential new step towards ensuring effective integration and competition at the European gas market through PRISMA’s well-established position at the heart of transnational markets”, said Goetz Lincke, PRISMA’s Managing Director.
Luca Schieppati, TAP Managing Director, added: “With the TAP project now more than 94% complete, we continue to focus on operational readiness and the start of commercial operations within the end of the year. TAP will bring a new source of gas into Europe, contributing to a more diversified and secure energy mix and our collaboration with PRISMA is a key element in enabling our service offering”.
TAP will transport natural gas from the giant Shah Deniz II field in the Azerbaijani sector of the Caspian Sea to Europe. The 878 km long pipeline connects with the Trans Anatolian Pipeline (TANAP) at the Turkish-Greek border in Kipoi, crosses Greece and Albania and the Adriatic Sea, before coming ashore in Southern Italy.
First gas deliveries to Europe via TAP will start by the end of 2020. TAP’s routing can facilitate gas supply to several South Eastern European countries. TAP’s landfall in Italy provides multiple opportunities for further transport of Caspian gas to the wider European markets. TAP promotes economic development and job creation along the pipeline route; it is also a major source of foreign direct investment. TAP’s shareholding is comprised of BP (20%), SOCAR (20%), Snam (20%), Fluxys (19%), Enagás (16%) and Axpo (5%).
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PRISMA is the major marketplace in Europe for booking and trading gas capacity. As a substantial part of the integrated European energy market, we connect gas markets for 19 European countries.
Our main task is the development and operation of the PRISMA capacity platform as well as the coordination of our stakeholders’ interests related to it. Our services include harmonised capacity products, auction and trading mechanisms, and related products for Transmission System Operators (TSOs) and Storage System Operators (SSOs).
Since founding in 2013, the platform has constantly evolved to meet growing demands in our business and to help balance the driving forces behind it. PRISMA is facilitating the collaboration of European market participants.
More about PRISMA: https://www.prisma-capacity.eu/