SOCAR to control 20 pct of TAP stake

Source: AzerNews

Three Shah Deniz Consortium members -- Azerbaijan's state energy company SOCAR, British BP and France's Total will get 50 percent of direct stakes in Trans Adriatic Pipeline (TAP),the final pipeline route connecting Caspian to Europe.

SOCAR President Rovnag Abdullayev said that SOCAR, BP will get 20 percent each while TOTAl will get 10 percent.

Earlier a TAP source told Trend news agency that the process can be completed within 30 days following the decision made on the selection of the project as the route to transport Shah Deniz-2 gas to Europe.

The TAP route will be approximately 870 kilometers long (550 km in Greece; 210 km in Albania; offshore Adriatic Sea - 15km; Italy 5 km). TAP's initial capacity will be 10 billion cubic meters per year, but it will be easily expandable to 20 billion cubic meters per year.

The 20 billion cubic meter/year TAP pipeline, being developed by a consortium of Switzerland's Axpo (42.5%), Statoil (42.5%) and Germany's E.ON Ruhrgas (15%), plans to transit gas produced at Shah Deniz via Greece and Albania, and then across the Adriatic Sea to Italy and further into Europe.