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Turkey eyes Statoil’s TAP share


ANKARA, August 17, 2015 – The Turkish government is eyeing Statoil’s 20-percent stake in the Trans Adriatic Pipeline (TAP) project designed to carry gas from Azerbaijan to Europe, according to Baku-based news agency Trend. The move may be part of Turkey’s plan to position itself as an energy gateway between the Middle East, southern Caucasus and Europe.

In late July 2015, Norway’s state-owned player announced its intention to leave TAP, following two sales completed in April of its 15.5-percent interests in Azerbaijan’s Shah Deniz gasfield and the South Caucasus Pipeline Company to Malaysia’s Petronas. Statoil’s share in TAP is valued at around €400 million, according to a report by Reuters.


The proposed 870-kilometre TAP is effectively an extension of the Trans-Anatolian Pipeline (TANAP) project that will transport gas from the Shah Deniz 2 field through Georgia and across Turkey. TAP will connect with TANAP at Kipoi on the Turkish-Greek border, before crossing the Adriatic and coming out in southern Italy.

Turkey holds a 30-percent interest in TANAP through its state-owned pipeline company BOTAS. With the acquisition of Statoil’s share, Turkey would join BP and the State Oil Company of Azerbaijan Republic, better known as SOCAR, as a stakeholder in both projects. SOCAR holds a 58-percent interest in TANAP and 20 percent in TAP, while BP holds a 12 percent and 20 percent, respectively. TAP’s remaining shareholders include Belgium’s Fluxys (19 percent), Spain’s Enagás and Switzerland’s Axpo (5 percent).

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