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SOCAR to Get 20 Percent Share in TAP Project

SOCAR, BP and Total will get a 50 percent stake in the Trans Adriatic Pipeline gas pipeline project (TAP), broken down to 20, 20 and 10 percent respectively, SOCAR head Rovnag Abdullayev said.

Abdullayev said that the partners for the Shah Deniz development will coordinate and sign all the agreements and contracts for the export of Azerbaijani gas to Europe by late 2013 which will enable them to take the final financial decision on the second stage of the Shah Deniz field development project by the end of this year. According to him, the gas prices have been already received from buyers.

The TAP project is designed to transport gas from the Caspian region via Greece and Albania and across the Adriatic Sea to the south of Italy and further to Western Europe.

Source: Trend

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