After much speculation, Bakhtiyar Aslanbayli – BP’s Vice President for External Affairs and Strategy in Azerbaijan, Georgia and Turkey – explained that BP has no intention of departing from the Trans Adriatic pipeline project (TAP).
Aslanbayli stated: "BP has never had such plans on the agenda. The company plans to stay on the Azerbaijani market for at least a few more decades."
Aslanbayli continued to explain how it is expected that Azerbaijan’s oil production between July and December 2016 will equal, if not be higher, than in the levels in 2015.
TAP’s shareholders are made up of the following: BP (20%), SOCAR (20%), Snam (20%), Fluxys (19%), Enagás (16%) and Axpo (5%).
The US$6 billion pipeline project should be complete in 2020, where Caspian natural gas will be transported to Europe.
Edited from various sources by Stephanie Roker
Read the article online at: https://www.worldpipelines.com/project-news/01092016/bp-no-issues-with-financing-tap/