Trans Adriatic Pipeline Strengthens Its Italian Team

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The Trans Adriatic Pipeline (TAP) has strengthened its team in Italy with the appointment of Giampaolo Russo, who takes position as TAP Italy’s Country Man-ager, effective 15 October 2012. Paul Pasteris, will continue to work for TAP and to develop the project in Italy.

Giampaolo Russo is a senior executive who has developed a successful career in Corpo-rate and Financial Affairs. Following the completion of his studies in political sciences – specialising in economics – at the LUISS University of Rome, Giampaolo began his career at the Bank of Italy where he held a number of positions with a strong financial focus. During almost 17 years at the Bank of Italy, Giampaolo worked as the coordinator of the Financial Subcommittee of the Committee for the Euro, later going on to take the position of Financial Attaché at the Italian Permanent Representation in the European Union in Brussels.

During his long-standing career, Giampaolo has developed strong relationships with many key stakeholders. He has held senior positions including working for ENEL, as Head of European and International Affairs, as well as joining Glaxo-SmithKline, where he was Director for Government Affairs. In 2007, Giampaolo joined Edison as Director for Public and Regulatory Affairs department, both at national and European level. For each of his positions at Glaxo-SmithKline and Edison, Giampaolo reported directly to the CEO. In 2012, Giampaolo joined Arthur D Little, Italy as a Senior Advisor.

Kjetil Tungland, Managing Director for TAP said: “I would like to welcome Giampaolo Russo to TAP in Italy. Given his experience and seniority in the energy business, I believe that TAP has been further strengthened with experience and expertise required for a large and complex infrastructure project such as TAP. TAP is a project that underlines Italy’s role as a major gas market in Europe and is a project that can ensure that new sources of gas will reach Italy. This will increase Italy’s and Europe’s security of supply, as well as enhance competition in the market. At the same time, I would like to also thank Paul Pasteris for his hard work and achievements as Country Manager. I am happy that he will continue his efforts as part of our team in Italy to ensure that the project moves forward towards success.”

About the Trans Adriatic Pipeline (TAP)

The Trans Adriatic Pipeline (TAP) is a natural gas pipeline project that will transport gas from the Caspian region via Greece and Albania and across the Adriatic Sea to Southern Italy and further into Western Europe.

The project is aimed at enhancing security of supply as well as diversification of gas supplies for the European markets. TAP will open a new so-called Southern Gas Corridor to Europe and establish a new market outlet for natural gas from the Caspian Sea and beyond.

The project is designed to expand transportation capacity from 10 to 20 bcm per year. TAP also envisages physical reverse flow of up to 80 per cent and the option to develop natural gas storage facilities in Albania to further ensure security of supply.

TAP’s transportation solution will be approximately 800 kilometres in length (Approx.: Greece 478 km; Albania 204 km; offshore Adriatic Sea 105 km; Italy 5 km). Transport will begin near the Greek-Turkish border (Komotini), cross Albania and the Adriatic Sea, and connect with the Italian natural gas distribution system near San Foca in Italy.

TAP’s shareholders are Axpo of Switzerland (42.5%), Norway’s Statoil (42.5%) and E.ON Ruhrgas of Germany (15%).

Press Release, October 11, 2012

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