Fluxys and Enagás have acquired the stakes of Total (10%) and E.ON (9%) in the Trans Adriatic Pipeline (TAP).
Through the acquisition Fluxys increases its stake from 16 to 19%, while Enagás becomes a new 16% partner in TAP. Under the new arrangement TAP’s shareholding is now comprised of BP (20%), SOCAR (20%), Statoil (20%), Fluxys (19%), Enagás (16%) and Axpo (5%).
The TAP project is part of the Southern Gas Corridor which is to supply Europe with gas from Azerbaijan sourced at the Shaz Deniz field in the Caspian Sea. As such TAP is a vital infrastructure for Europe’s supply diversification and the project has been included as a Project of Common Interest by the European Union.
The approximately 870 km long 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.
Press Release, September 30, 2014; Image: Fluxys