BP, SOCAR and Total, members of the international consortium developing the giant Shah Deniz gas field in Azerbaijan, have exercised their option to join the Trans Adriatic Pipeline. BP and SOCAR have each taken a 20% share while Total has acquired 10%. In addition, Fluxys, the Belgian gas transmission system operator, has opted to join TAP, taking a 16% stake in the project. TAP’s shareholders, Axpo, Statoil and E.ON also continue their support of the project. TAP’s shareholding is now comprised of BP (20%), SOCAR (20%), Statoil (20%), Fluxys (16%), Total (10%), E.ON (9%) and Axpo (5%).
TAP will transport 10 bcm/year (expandable to 20 bcm/year) natural gas from the giant Shah Deniz II field in Azerbaijan to Italy. The pipeline will connect with the Trans Anatolian Pipeline (TANAP) near the Turkish-Greek border at Kipoi, cross Greece and Albania and the Adriatic Sea, before coming ashore in Southern Italy.