BP, Total, SOCAR join southern European gas pipeline project
Shah Deniz field consortium members BP, SOCAR, and Total have joined the Trans-Adriatic Pipeline (TAP) project.
BP and SOCAR each have taken a 20% stake while Total has acquired 10%. In addition, Fluxys, a gas transit operator in Europe, has taken a 16% stake in the project.
Existing TAP shareholders are Axpo of Switzerland (5%), Statoil (20%), and Germany’s E.ON (9%).
The planned TAP pipeline will transport natural gas from the Shah Deniz II field in the Azeri sector of the Caspian Sea to markets in Europe.
It will connect with the proposed Trans Anatolian Pipeline (TANAP) near the Turkish-Greek border at Kipoi, traversing Greece, Albania, and the Adriatic Sea before coming ashore in southeast Italy.
TAP will act as the link to Azerbaijan and other gas producers in the Caspian Sea and wider region.