2024-03-28 05:37:19
Croatia is working on financing the Ionian-Adriatic Pipeline (IAP).
As Day.Az reports, a source in the Croatian Ministry of Economy and Sustainable Development told Trend about this.
“Positive feedback has been received from the Montenegrin government and we hope to continue implementing the IAP project throughout this year. We have also held discussions with Bosnia and Herzegovina while Plinacro has been preparing all the necessary permits for the Croatian part of the IAP. We are still working on funding, and this issue must be resolved over time,” the source said.
At the same time, he noted that the Croatian side held negotiations with representatives of SOCAR Balkans to discuss the possibilities of transporting gas from Azerbaijan to Croatia in smaller volumes, but these negotiations are still at the preparation stage.
“It is important to emphasize that the IAP is important for Croatia and we will continue dialogue with all our partners to ensure that the project is implemented quickly and contributes to decarbonisation, while supplying gas to Montenegro and Bosnia as a first step towards phasing out fossil fuels fuel,” the source added.
Note that the Ionian-Adriatic Pipeline can be connected to the Trans Adriatic Pipeline (TAP) to transport gas to many countries in South-Eastern Europe.
The total length of the gas pipeline is about 511 km, of which 96 km pass through the territory of Montenegro, and 37 km will be laid along the seabed. The total capacity of the pipeline is 5 billion cubic meters per year. Albania and Bosnia and Herzegovina will receive 1 billion cubic meters each, Montenegro – 0.5 billion cubic meters. Croatia and Central Europe (2.5 billion cubic meters) will also be connected to the pipeline.
TAP has already signed memorandums of understanding and cooperation with the developers of this project, in particular with the companies Plinacro (Croatia), BH-Gas (Bosnia and Herzegovina), GeoplinPlinovodi (Slovenia), as well as with the governments of Montenegro and Albania.
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A TAP and IAP working group has been created, which regularly meets to synchronize the timing of both projects and coordinate technical issues.