Minister of Energy, Damian Gjiknuri and TAP Pipeline Managing Director, Ian Bradshaw signed on Wednesday an agreement with TAP consortium for the local benefits and pipeline maintenance in Albania. Today's signature was the result of 7-months negotiations on this issue.
Albania has numerous benefits from this agreement that would now be approved by the government and will then be adopted by the parliament. Review of the period of the fiscal stability gives to the Albanian state the right to obtain a higher income tax, in a total sum of 60 Mln Euro during the project's operational phase. Furthermore, Albania obtains an augmentation of the investments in community from 7 to 14 million Euro.
"This amended agreement creates the possibility for Albania to be treated appropriately and to re-balance its contractual commitments as the host country of the pipeline while maximizing benefits. Albanian government welcomes TAP commitment for the continuation of investments project in the interest of local communities," declared Minister Gjiknuri, speaking to journalists after agreement's signature.