BAAR, Switzerland – Spanish utility company Enagás is taking a 16% stake in the Trans-Adriatic Pipeline (TAP), and existing shareholder Fluxys has increased its stake from 16% to 19%.
This follows the purchase by both companies of shares previously owned by E.ON (9%) and Total (10%). The TAP consortium now comprises BP (20%), SOCAR (20%), Statoil (20%), Fluxys (19%), Enagás (16%), and Axpo (5%).
TAP will transport natural gas from the Shah Deniz II field development in the Caspian Sea offshore Azerbaijan to various countries in Europe. The 870-km (541-mi) long pipeline will connect with the Trans Anatolian Pipeline (TANAP) system near the Turkey/Greek border at Kipoi, then head north through Greece and Albania before crossing the Adriatic Sea and making final landfall in southern Italy.
The next phase of the program involves construction of roads and bridges in Albania in early 2015.