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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