The construction works of the Trans Adriatic Pipeline (TAP) will start mid this year in Greece, said the Greek segment project director, Richard Skoufias. The pipeline will take gas from the Turkish-Greek border and transport them to Italy, via Albania and the Adriatic Sea.

TAP sends a signal of confidence in the Greek economy and strengthens the role of the countries in the region, said Richard Skoufias. The Partners Consortium of the project company has signed agreements with more than 150 companies from Greece to build the pipeline and so far organized over 450 meetings with representatives of the communities through which the pipeline will pass and will make its presence felt.

The energy sector in Greece is in a deplorable state in terms of competitiveness and access to finance, status transmitted to consumers by raising prices in asymmetry with increasing service quality.

The DESFA Distributor has not yet been privatized by SOCAR, the Azerbaijani company part of TA also, and the state company Hellenic Petroleum has repeatedly stressed out that Greece must make better use of the investment opportunities in the exploration and production of hydrocarbons, renewable energy, transport infrastructre for gas and electricity.

George Alexopoulos, director for strategic planning at Hellenic Petroleum noted that there are major obstacles in organizing the procedures for licensing exploration in the Ionian Sea. He also believes that Greece could attract between 2016 and 2020 more than 2.5 billion euros for performing investments in renewable energy sources.