World Rreview: Wide-ranging impact for Europe's energy supply security

BUILDING the TANAP and TAP pipelines will open a fourth major natural gas corridor for the European Union and enhance European energy supply security.

The new corridor has wide-ranging strategic implications for the EU’s future energy and foreign and security policies.

The biggest European winners following the selection of the Trans-Adriatic Pipeline (TAP) over its rival Nabucco-West are Greece, Albania and Italy.

Greek benefits include receiving Azerbaijan gas, windfall investments from TAP in excess of 1.5 billion euros and the creation of more than 12,000 temporary jobs when Greece has a 27 per cent unemployment rate.  MORE