The Trans Adriatic Pipeline AG (TAP) today announced that BP, SOCAR and Total -
members of the international consortium developing the giant Shah Deniz field in
Azerbaijan - have exercised their option to join the Trans Adriatic Pipeline
AG.
BP and SOCAR
have each taken a 20% share while Total has acquired 10%.In addition, Fluxys, a
major gas transit operator in Europe, has opted to join TAP, taking a 16% stake
in the project. TAP’s shareholders, Axpo of Switzerland, Statoil of Norway and
E.ON of Germany also continue their support of the
project.
TAP’s
shareholding is now comprised of BP (20%), SOCAR (20%), Statoil (20%), Fluxys
(16%), Total (10%), E.ON (9%) and Axpo (5%).
Kjetil Tungland,
Managing Director for TAP said: “I would like to
welcome the Shah Deniz shareholders and Fluxys to the TAP project. Our new
shareholders will significantly enhance TAP’s strategic position in becoming an
integral link between both their upstream and downstream busi nesses. This will
further strengthen the integration of the entire Southern Gas Corridor value
chain and support TAP’s delivery of the project on time and on
budget.”
TAP’s
shareholders remain open to further strategic partners joining the project in
the future.