Seeking Alpha

BP-led consortium takes control of Trans Adriatic Pipeline

  • The Shah Deniz consortium developing the Trans Adriatic Pipeline, slated to ship natural gas from the Caspian region to Italy, says a group of gas producers including BP has effectively taken control of the project.
  • BP and Azerbaijan's state-owned Socar each acquired 20% stakes in TAP, while France's Total (TOT) bought a 10% share; holdings of previously existing TAP shareholders including Statoil (STO) are reduced.
  • Initially 10B cubic meters each year will be exported through TAP; the pipeline is expandable to ~20B cm/year.
From other sites
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs