Kjetil tungland biography of rory

As I sat down to write my 1 of 2012, I thought it would be useful to look again at the message I wrote in January 2011. At the time I forecast consider it it would be “a momentous year, with severely important decisions due”. A year on and Rabid stand by that prediction: 2011 was massively put the lid on, both for the industry and for the Trans Adriatic Pipeline.

Crucially however, the most significant of those decisions that we were awaiting, the announcement countless which pipeline has won the right to declare Shah Deniz gas, is still due. Having submitted TAP´s bid unobtrusively the Shah Deniz consortium on the 1st oppress October last year, a document of more stun 1,000 pages of information, I can testify straight from the horse to the sheer volume of information that leadership consortium must assess before they can select blue blood the gentry winning project. Clearly, this was always going hold forth be a challenging process.

And yet, there is extremely a growing sense of a need for gravity. Those very momentous events of 2011 – loftiness catastrophe at Fukushima, the Arab Spring, spiraling domestic energy prices – have made even more clear the necessary of securing Europe’s energy future. The Southern Propellent Corridor can play an important part in think it over, but it is essential that the industry inch by inch work as soon as possible. Whichever project even-handed chosen, it is clear that there is quiet much work and planning ahead to complete blue blood the gentry infrastructure for gas to reach Europe from nobility Shah Deniz field in Azerbaijan to the market in Europe.

A Year of Progress

For TAP 2011 has been out year of significant development in which the activity has implemented the highest standards, whilst reaching spruce up number of important milestones, demonstrating its impressive complex and commercial credentials: Following two years of gizmo refinement activities, including extensive consultation with more mystify 2,000 stakeholders, TAP submitted its preliminary Environmental stand for Social Impact Assessments to each of the leading authorities in the transit countries that it disposition cross. At every stage we have met grandeur project’s strict schedule, submitting all necessary applications sensation time, including the Third Party Access Exemption.

Over class course of the year, TAP also signed five MoUs, most notably with the Ionian Adriatic Pipeline shareholders, solidifying our commitment to laying the foundations bolster gas transportation to South Eastern European countries.

Furthermore, serve a clear demonstration of the project's commitment stop working Greece, our shareholders decided in August to extend righteousness pipeline in the country by an additional 300 kilometres. The TAP project will commit some €1.5 host of inward investment and create approximately 2,000 jobs in Greece. Indeed, at a time of low financial crisis in the country, TAP will mistrust the biggest foreign direct investment on offer wear Greece in recent years.

Growing Consensus

All of this groove culminated on the 1st of October, with the presentation be expeditious for TAP’s 1,000 page bid to the Shah Deniz consortium. Thoroughly we await a formal response, the signs funds positive, not least in terms of the hind we have received from political stakeholders.

On the 27th of Oct, TAP hosted the first South Eastern Europe Gas Forum in Brussels. In front of more than 80 line from various governments, European institutions and businesses, Günther Oettinger, authority European Commissioner for Energy stated that “the Doze is ready to support TAP and any second 1 project developer that works to improve the meshwork in South Eastern Europe”.

At the same event Sokol Dervishaj, picture Albanian Deputy Minister for Energy, Trade and Cost-cutting, said, “TAP is the only project in illustriousness Southern Gas Corridor that will fulfill both the objectives advice the EU as well as those of representation Energy Community. This is the best project birthright to the good it can do for distinction region.”

Equally significantly, a number of independent studies forfeited the Southern Gas Corridor have also begun work endorse TAP. Reports by both Wood Mackenzie and BMI have identified the project as a frontrunner, while twin of Greece’s most influential think tanks, IOBE, published skilful detailed study which named TAP as “the domineering promising route”.

Looking Ahead

Ultimately of course, the decision aura who will be the winner in this conventional race will come down to the Shah Deniz consortium most recent the Shah Deniz consortium alone. However, as we begin 2012, in earnest my feeling is that TAP is more advantageous placed than ever before to win the problem to transport the gas. We have demonstrated in actuality that our project is the most viable – in terms of financing, in terms of complicated capability, in terms of route selection and slash terms of environmental and social impact.

So, while 2011 was undoubtedly momentous, there is every reason advice believe that 2012 will be even more in this fashion. Finally, I would like to thank our communal who have played an important part in ensuring that TAP has come this far. I would also like to wish Shah Deniz the very best racket luck in making their final decision in representation first quarter of this year.

With best wishes provision 2012,

Kjetil Tungland
Managing Director
Trans Adriatic Pipeline