Energy giant BP PLC (BP) is looking to buy a 12% stake in the Trans-Anatolian Pipeline, in yet another move showing the company's determination to get a grip on the whole route expected to bring the first Caspian natural gas ever to Europe before the end of the decade.
Energy giant BP PLC (BP) is looking to buy a 12% stake in the
Trans-Anatolian Pipeline, in yet another move showing the company's
determination to get a grip on the whole route expected to bring the first
Caspian natural gas ever to
Europe
before the end of the decade.
"BP received a formal offer from (Azerbaijan's state oil company) Socar
for a 12% stake," Al Cook, BP's vice president for the development of Shah
Deniz, the giant gas field offshore Azerbaijan in the Caspian, told Dow Jones
Newswires in an interview this week.
"We want to have enough equity in the Shah Deniz (gas field) project's
chain of platforms, pump-stations and pipelines to ensure that the schedule and
capacity of all these projects are aligned," he said.
Tanap--whose main shareholder is expected to remain Socar--would run across
Turkey
and
carry the gas to the border with
Europe
, from
where it would then go to
Italy
or to
the Balkans and
Austria
.
Mr. Cook also said that BP is negotiating to acquire a stake in the Nabucco
West pipeline, one of two projects that are competing to carry the gas through
Europe
.
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