Azeri Socar, BP, Total to get TAP stakes

BAKU - Reuters

Azeri state energy company SOCAR and British BP will get 20 percent each, while French Total will have a 10 percent stake in the Trans Adriatic Pipeline (TAP) project, SOCAR’s president said yesterday.

Abdullayev said that the partners for the Shah Deniz development will coordinate and sign all agreements and contracts for the export of Azerbaijani gas to Europe by late 2013 which will enable them to take a final financial decision on the second stage of the Shah Deniz field development project by the end of this year.

Nabucco still possible

Alternative to TAP, Nabucco-West pipeline project, which is a proposed natural gas pipeline from the Turkish-Bulgarian border to Austria, will be carried out after TAP is completed, Abdullayev stated, which he said would be possible after 2020.

Shah Deniz consortium confirmed on June 28 that TAP was selected to transport Shah Deniz II gas to Europe, defeating the rival Nabucco West project.

TAP plans to deliver 10 billion cubic metres of Azeri gas to Europe each year beginning in 2019, linking a Turkish pipeline to southern Italy via Greece and Albania.