Norway’s Statoil to leave TAP
Baku, Azerbaijan, July 21
Norway's Statoil is to sell its 20-percent stake in the Trans Adriatic Gas Pipeline (TAP) project that will carry gas from Azerbaijan to Europe, the president of SOCAR Rovnag Abdullayev told ANS TV.
"Statoil has decided to leave the TAP project completely, and there is a company which is ready to buy its stake," he said.
He also added that several companies have expressed an interest in buying Statoil's stake, and it would be better if several companies would buy it.
TAP project is a part of the Southern Gas Corridor that will allow Europe to diversify its hydrocarbon supply sources and strengthen energy security. Azerbaijani gas is designed to open the Southern Gas Corridor.
TAP will transport natural gas from the giant Shah Deniz II field in Azerbaijan to Europe. The approximately 870 km long pipeline will connect with the Trans Anatolian Pipeline (TANAP) at the Turkish-Greek border at Kipoi, cross Greece and Albania and the Adriatic Sea, before coming ashore in Southern Italy.