The State Oil Company of Azerbaijan Republic (SOCAR) has signed a Memorandum of Understanding on a project for the construction of the future Ionian-Adriatic gas pipeline (IAP) with Croatia, Albania, Bosnia and Herzegovina and Montenegro, AZERTAC News reports.
According to aboutcroatia.net, the signing ceremony was held as part of the Dubrovnik Forum.
In 2007, Croatia, Montenegro and Albania signed a declaration on the IAP, which is supposed to be connected to the Trans-Adriatic Pipeline (TAP). The 870-kilometre-long TAP should transport gas from Shah Deniz II, Azerbaijan, via Greece and Albania and the Adriatic Sea, to Italy.
The length of the IAP gas pipeline from Split, Croatia to Fier, Albania is 516 kilometres, and the capacity of this pipeline is set at five billion cubic metres annually.