- Statoil (STO) agrees to sell its 20% stake in the Trans Adriatic Pipeline to Italian gas pipeline operator Snam for €208M ($220M), partly to reduce its spending obligations.
- The 882 km TAP, stretching from Turkey through Greece and Albania to Italy, will be the westernmost part of the 3,500 km Southern Gas Corridor, which is set up to bring gas from Azerbaijan's Shah Deniz gas field to the European market via Georgia and Turkey toward the end of the decade.
- STO had been a partner in the TAP pipeline since 2008 but has sold off all interests in the Shah Deniz field, part of its divestment of ~$25B in assets.