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BP, Statoil and Total to Acquire TANAP Stakes

On Wednesday, SOCAR president Rovnag Abdullayev said that BP, Statoil and Total have agreed to acquire a combined 29 percent in the Trans–Anatolian Natural Gas Pipeline Project (TANAP), a project designed to reduce Europe's reliance on Russian gas.

"BP and Statoil intend to acquire 12 percent each in the project, while Total will take 5 percent," Abdullayev said.

SOCAR has an 80 percent stake in TANAP, while the rest is owned by Turkey's state-owned companies, Botas and TPAO.

Source: AzerTAc

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