Snam to buy Statoil’s stake in TAP system
Italy’s Snam SPA will acquire from Statoil ASA its 20% stake in Trans Adriatic Pipeline AG (TAP) for €208 million. The transaction is expected to close by yearend. Statoil has been part owner in TAP since 2008, but divested its share of the Shah Deniz gas field in Azerbaijan in 2014.