Snam Confirms Room for TAP Investment

Snam’s CEO Carlo Malacarne confirmed that there are TAP’s stakeholders willing to sell their shares to the Italian company, adding that a 20% interest would cost around 400 million euros. The price has also to do with the current market conditions. 

“We will not witness an increase in gas consumption in Europe by 2030. It will be necessary to substitute the current production from the depleting fields with new sources” he said to Italian daily newspaper Corriere della Sera. 

He explained Europe has not to decrease its imports from Russia, but find new partners to import new gas. 

“We have to get gas where there is some, in the Caucasus, prospectively in Iran, in North Africa. And here we come into play” he said, adding that Italy should take a more central role in the Mediterranean, and especially in Algeria. 

A few hours after the interview, European authorities agreed a deal with Greece that should be approved in the Greek parliament in Athens by Wednesday.  The TAP pipeline will pass through Greece and Albania. 

Meanwhile, several reports seem to indicate that a deal on Iran seems increasingly more likely.