Total and E.ON to withdraw from TAP pipeline project
Published by Rosalie Starling,
Editor - Hydrocarbon Engineering
World Pipelines,
According to officials from Azerbaijan’s state energy company SOCAR, Total and E.ON are planning to withdraw from the Trans Adriatic gas pipeline (TAP) project, which is designed to decrease Europe’s reliance on Russia for natural gas.
During the Caspian Oil & Gas Conference in Baku, Azerbaijan, Vagif Aliyev, Investment Department, SOCAR, told local press: “Total and E.ON plan to withdraw from the TAP project.” A second senior official from SOCAR confirmed this information.
The Trans Adriatic pipeline (TAP) aims to transport natural gas from the giant Shah Deniz II field in Azerbaijan. The 870 km (545 mile) pipeline will connect with the Trans Anatolian pipeline (TANAP) near the Turkish-Greek border at Kipoi, run across Greece, Albania and the Adriatic Sea to southern Italy, and further to western Europe.
The current shareholders of the TAP project are BP (20%), SOCAR (20%), Statoil (20%), Fluxys (16%), Total (10%), E.ON (9%) and Axpo (5%).
Edited from various sources by Rosalie Starling
Read the article online at: https://www.worldpipelines.com/business-news/03062014/total_and_eon_to_withdraw_from_tap_pipeline_project_450/
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