Assessing the macroeconomic effect of gas pipeline projects: the case of Trans-Adriatic Pipeline on Greece

摘要

This paper presents a framework for analyzing in quantitative and monetary terms the macroeconomic effects associated with the construction and operation of large energy investments, including the impact on Gross Domestic Product (GDP), employment and public revenues, by sector of economic activity. The proposed framework has been implemented for analyzing the macroeconomic implications associated with the construction and operation of the Trans-Adriatic Pipeline (TAP) project in Greece. To this end, the input-output methodological framework has been used for estimating the macroeconomic implications of the project under consideration in conjunction with the adjusted earnings gain approach for monetizing the resulting employment effects. The results of the analysis clearly show that the construction activities will create significant direct, indirect and induced benefits to the Greek economy, growing the GDP by u20ac931 million, creating employment benefits amounted to u20ac197 million and contributing u20ac359 million to the treasury. Furthermore, it was estimated that ongoing operation of the pipeline could increase the national GDP at about u20ac17 million, the employment benefits of about u20ac4.7 million and the tax revenues of approximately u20ac6.8 million, on an annual basis and for a period of 50 years.