The deal signed between Snam S.p.A and Statoil is valued at 208 million euros, 130 million euros of which has already been paid top Statoil. Furthermore, 78 million euros will be used for TAP’s creditation.
Snam S.p.A will be represented by two members in the TAP Board of Directors.
Note that, the TAP shareholders include BP (20%), SOCAR (20%), Fluxys (19%), Enagas (19%), and Axpo (5%).