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"Snam S.p.A" CEO: "Several TAP shareholders are interested in selling their shares to us"

14 July 2015 15:38 (UTC +04:00)

Baku – APA-Economics. Several TAP (Trans Adriatic Pipeline) shareholders are interested in selling their shares to Snam S.p.A, Group, said the Chief Executive Officer of Snam S.p.A. Carlo Malacarne.

According to him, 20% share in TAP costs about $400 mln and meets current market.

Earlier, Malacarne told Reuters that the company has started evaluation works since June to acquire 20%-share in TAP.

Azerbaijani President Ilham Aliyev said in his visit to Italy on June 9 that Azerbaijani side is not against acquisition of share by Italian "Snam S.p.A." in TAP.

TAP is designed for transportation of natural gas of Shahdeniz 2 to Western Europe through Greece and Albania. Annual capacity is 10 bcm of gas. However, it’s possible to increase the capacity to 20 bcm. This pipeline will start to transport Azerbaijani gas in 2019.

TAP shareholders are: BP – 20%, SOCAR – 20%, Statoil – 20%, Fluxys – 19%, Enagas – 16% and EGL-Axpo – 5%.