Officials from Croatia and Montenegro announced plans to begin construction of a natural gas pipeline that will connect to the Trans Adriatic Pipeline (TAP), according to a U.S. and Azerbaijan Chamber of Commerce report Wednesday.
The TAP has been designed to deliver natural gas from Azerbaijan's Shah Deniz development field to Europe. The project is one that many countries in the region are interested in joining.
Ministers of Economy from Croatia and Montenegro, Ivan Vrdoylak and Vladimir Kavaric, respectively, announced the plan for a connecting pipeline in a joint press conference.
"There is a political will," Vrdoylak said. "Now you have to gather investors and regulators to discuss transit costs. We also would like to include Bosnia and Herzegovina in this project."
Both countries will be investing approximately $742.5 million into their connecting pipeline. According to the report, this pipeline will be constructed along the coast of the Adriatic Sea