Total, E.ON said to withdraw from TAP gas pipeline project

|By:, SA News Editor

Total (TOT) and E.ON (EONGY) plan to withdraw from the Trans Adriatic Gas Pipeline project designed to reduce Europe's reliance on Russian gas, according to officials of Azerbaijan state energy company Socar.

The TAP project aims to transport gas from Azerbaijan's Shah Deniz II field in the Caspian Sea, one of the world's largest gas fields, by the end of the decade.

Among TAP's largest shareholders are BP (20%), Socar (20%), Statoil (20%), Total (10%) and E.ON (9%).