Azerbaijani gas flows via the Trans Adriatic Pipeline (TAP) are expected to ramp up to the full capacity of 10 billion cubic meters per year in 2022, according to the International Energy Agency (IEA).
TAP has to date transported 5 billion cubic meters of gas to Europe.
TAP's total capacity is 10 billion cubic meters with possibility of expansion to 20 billion cubic meters per year. TAP is designed to supply 8 billion cubic meters of gas to Italy and 1 billion cubic meters to Greece and Bulgaria each.
Yesterday, natural gas prices in Europe skyrocketed to record-high $1,900 per 1,000 cubic meters. According to EU climate chief Frans Timmermans, the demand from the EU coming out of the COVID crisis is higher than in the last 25 years, which caused the energy crisis.
