BAKU, Azerbaijan, February 23. The first dividend of the Spanish company Enagas from the Trans Adriatic Pipeline (TAP) following its commissioning exceeded 76.4 million euros as of December 31, 2023, Trend reports via the company.
“Funds from operations (FFO), as at December 31, 2023, amounted to 555.3 million euros. This figure includes dividends received from affiliates, totaling +192.5 million euros. This sum includes receipt of TAP’s first dividend following its commissioning, which amounted to +76.4 million euros,” the company said.
The Trans Adriatic Pipeline is part of the Southern Gas Corridor, transporting natural gas to Europe from the Shah Deniz II field in Azerbaijan.
Connecting with the Trans Anatolian Pipeline at the Greek-Turkish border, TAP crosses Northern Greece, Albania and the Adriatic Sea before coming ashore in Southern Italy to connect to the Italian natural gas network.
Trans Adriatic Pipeline’s shareholding is comprised of BP (20%), SOCAR (20%), Snam S.p.A. (20%), Fluxys (20%) and Enagás (20%).
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