Shah Deniz members, Fluxys join Trans Adriatic Pipeline

BP PLC, State Oil Co. of Azerbaijan Republic (SOCAR), and Total SA—members of the international consortium developing Shah Deniz field in Azerbaijan—have exercised their option to join Trans Adriatic Pipeline AG. BP and SOCAR each have taken a 20% share, while Total has acquired 10%. Fluxys, a major gas transit operator in Europe, also joined TAP, taking a 16% stake in the project.

TAP’s shareholders now are BP 20%, SOCAR 20%, Statoil 20%, Fluxys 16%, Total 10%, E.On 9%, and Axpo 5%. Axpo and Statoil previously held 42.5% each, with E.On holding the remaining 15% share.

TAP said its shareholders remain open to further strategic partners joining the project in the future.

The Shah Deniz II consortium earlier this year selected TAP as the project’s European natural gas transport option (OGJ Online, June 26, 2013). TAP will transport as much as 20 billion cu m/year from Shah Deniz through Greece and Albania to Italy, from where it can be shipped further into Western Europe.

Contact Christopher E. Smith at chriss@ogjonline.com.

Related Articles

Judge bars Anadarko e-mails as evidence in Macondo blowout hearing

03/21/2014 A federal district judge in New Orleans refused to accept e-mails between Anadarko Petroleum Corp. and BP PLC as evidence in a hearing to determine...

Industry group welcomes most UK budget moves

03/21/2014 Oil & Gas UK voiced support for all but one of several measures affecting the offshore producing industry announced in the UK government’s annu...

MARKET WATCH: Crude oil, gas futures prices slide entering spring

03/21/2014

The first day of spring in the northern hemisphere was marked by lower crude oil and natural gas futures prices.

OMV acquires West of Shetland licenses from Hess

03/21/2014 OMV AG has reached an agreement with Hess Corp. to acquire four licenses in West of Shetland, UK, including Cambo field and the Blackrock prospect,...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected