Total and E.ON have sold their stakes (10% and 9%, respectively) in the Trans Adriatic Pipeline (TAP) to Spanish and Belgium gas transmission network operators Enagas and Fluxys: Enagas has joined the project as a new shareholder with a 16% stake in the company. In addition, existing shareholder Fluxys has increased its stake in TAP from 16% to 19%. TAP’s shareholding is now comprised of BP (20%), SOCAR (20%), Statoil (20%), Fluxys (19%), Enagás (16%) and Axpo (5%).
The Trans Adriatic Gas Pipeline (TAP) project is aimed to transport gas from the Shah Deniz gas field in Azerbaijan to Europe, connecting with the Trans Anatolian Pipeline (TANAP, in Turkey) at Kipoi at the Turkish-Greek border, cross Greece and Albania before reaching southern Italy. It would have a transport capacity of 10 bcm/year, to be later raised to 20 bcm/year. With first gas sales to Georgia and Turkey targeted for late 2018, first deliveries to Europe will follow in 2019.
Source: TAP