Statoil divests Shah Deniz pipeline stake

Offshore staff

STAVANGER, Norway – Statoil has agreed to sell its 20% interest in Trans Adriatic Pipeline AG to Italian gas infrastructure company Snam for EUR 208 million ($220 million).

When constructed, the 882-km (548-mi) long TAP pipeline will be the westernmost section of the Southern Gas Corridor, a 3,500-km (2,175-mi) gas transportation system taking supplies from the Shah Deniz Stage 2 development in the Azeri sector of the Caspian Sea to markets in Europe.

Last year, Statoil also sold its interests in Shah Deniz, South Caucasus Pipeline Co., and Azerbaijan Gas Supply Co. to BP, SOCAR, and Petronas.

12/01/2015

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