SEE regional energy security, TAP to be enforced by BP, SOCAR, Total and Fluxys

5. August 2013. / SEE Energy News

Trans-Adriatic Pipeline (TAP) announced today that BP, SOCAR and Total, members of the international consortium that is developing the Shah Deniz gas field in Azerbaijan, decided to use their option of joining TAP. BP and SOCAR have taken a 20% share, while Total took 10%. Fluxys, one of the largest operators of gas transit to Europe, also decided to join the TAP and has gained a 16% share in the project. Other shareholders TAP, Swiss Axpo, Norwegian Statoil and German E.ON continued to give their support to the project.

Current shares in TAP are: BP (20%), SOCAR (20%), Statoil (20%), FLUXYS (16%), Total (10%), E.ON (9%) and Axpo (5 %).

Kjetil Tungland, Managing Director of TAP, on this occasion said: “I would welcome the Shah Deniz shareholders and Fluxys on joining TAP. Our new shareholders will significantly improve the strategic position of this project and become an integral link in all its activities. New shareholders will dramatically integrate the entire southern gas corridor and enable the delivery of the project in the agreed time and budget. ”

TAP’s shareholders emphasized that they are still open to the inclusion of new strategic partners in the project.


Source;Serbia Energy/Agencies

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