A new agreement will open the pipeline’s future transportation capacity marketing activities on the PRISMA platform.
PRISMA connects gas markets for 19 European countries and is the major marketplace on the continent for booking and trading gas capacity. Founded in 2013, the company provides gas transmission and storage system operators a single and independent location to market their products through all types of trading activities.
The 878 km Trans Adriatic Pipeline (TAP) will transport natural gas from the Shah Deniz II field in the Caspian Sea to Europe, connecting with the Trans Anatolian Pipeline at the Turkish-Greek border before crossing Greece, Albania and the Adriatic Sea and coming onshore in Italy.
The agreement with PRIMSA will open TAP’s future transportation capacity marketing activities on the PRISMA platform, where transmission system operators, storage system operators and shippers market gas capacity at market levels.
PRISMA says the agreement is in line with its aim to establish a fair and transparent market by facilitating the integration and security of gas capacity trade. By making the European section of the Southern Gas Corridor available on the PRISMA platform, a crucial pathway has been added that will ensure the diversity of energy supplies in Europe.
PRISMA Managing Director Goetz Lincke says the addition of TAP to the marketplace was an important part of maximise competition on the continent.
“TAP joining PRISMA will add an essential new step towards ensuring effective integration and competition at the European gas market through PRISMA’s well-established position at the heart of transnational markets,” he says.
TAP Managing Director Luca Schieppati adds the project is set to come online later in 2020, meaning the company is continuing to focus on operational readiness and the start of commercial operations.
“TAP will bring a new source of gas into Europe, contributing to a more diversified and secure energy mix and our collaboration with PRISMA is a key element in enabling our service offering,” he says.
PRISMA’s services include harmonised capacity products, auction and trading mechanisms and related products for transmission system operators and storage system operators.
This article was featured in the July 2020 edition of Pipelines International. To view the magazine on your PC, Mac, tablet or mobile device, click here.
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