Deputy Prime Minister and Foreign Minister Venizelos΄ statement on the choice of the Trans Adriatic Pipeline (TAP) - Announcement of TAP

The choice of the Trans Adriatic Pipeline (TAP) points up Greece’s geographical and political role in Southeast Europe as a whole and the Western Balkans in particular.

JOURNALIST: Mr. Minister, what does the Shah Deniz Consortium’s decision mean for our country?

E. VENIZELOS: The choice of the Trans Adriatic Pipeline (TAP) to link the Caspian with Europe is an extremely positive development, not just in energy issues, but also for Greek foreign policy. Because this pipeline will function as an additional factor in the stability and security of our wider region, and I think it also bolsters Greek-Turkish and Greek-Albanian relations. And it points up Greece’s geographical and political role in Southeast Europe as a whole and the Western Balkans in particular.

Of course, the economic dimension is very, very important. Because we have a major foreign direct investment, money will be coming into the country, jobs are being created, collateral opportunities are being created. . And of course it gives us much greater energy security, because we have new supply sources, and we also have another natural gas transit route.

So there are multiple benefits, and it really is a vote of confidence right now in Greece’s real economy. The sacrifices of the Greeks are many, the crisis is deep – six years of recession and three years of very tough measures for the Greek people. And now something is starting to appear on the horizon. And that something is important. It corresponds to Greece’s real magnitude in the wider region and, I would say, in Europe more generally.

The Foreign Ministry’s role in this effort was, throughout this time, decisive, and I am pleased that there are results.

JOURNALIST: Would you say that this decision also counts psychologically for the economy?

E. VENIZELOS: Obviously, as you know, the economy is, to a great degree, psychology. So it is very important for the Greek people to receive messages of optimism and gestures of encouragement. But here we are not talking about words. Here we are talking about money that is being invested. And, in fact, Greece is just reaping the benefits: it is not spending its own funds, we are not making a state investment. We are talking about a major international private investment from which Greece benefits, and it benefits both economically and politically.

Shah Deniz Consortium selects the Trans Adriatic Pipeline (TAP) as European export pipeline