E.ON and Total are considering divesting their stakes in the Trans Adriatic Gas Pipeline (TAP) project, aimed to transport gas from the Shah Deniz gas field in Azerbaijan to Europe. The TAP would connect 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.
TAP’s shareholding is comprised of BP (20%), Socar (20%), Statoil (20%), Fluxys (16%), Total (10%), E.ON (9%) and Axpo (5%).
Earlier in June 2014, Total sold its 10% stake in Shah Deniz gas field in Azerbaijan.
Source: TAP