Industry and Energy

Home page

Industry and Energy

BP, SOCAR, Total and Fluxys join TAP project

30 July 2013 12:19 (UTC +04:00)

BP and SOCAR have each taken a 20% share while Total has acquired 10%. In addition, Fluxys, a major gas transit operator in Europe, has opted to join TAP, taking a 16% stake in the project. TAP’s shareholders, Axpo of Switzerland, Statoil of Norway and E.ON of Germany also continue their support of the project.

TAP’s shareholding is now comprised of BP (20%), SOCAR (20%), Statoil (20%), Fluxys (16%), Total (10%), E.ON (9%) and Axpo (5%).

Kjetil Tungland, Managing Director for TAP said: “I would like to welcome the Shah Deniz shareholders and Fluxys to the TAP project. Our new shareholders will significantly enhance TAP’s strategic position in becoming an integral link between both their upstream and downstream busi nesses. This will further strengthen the integration of the entire Southern Gas Corridor value chain and support TAP’s delivery of the project on time and on budget.”

TAP’s shareholders remain open to further strategic partners joining the project in the future.