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23.07.2015 09:40

TAP has some shareholders that ready to sell their shares, says SNAM

There are companies among the shareholders of the trans-Adriatic gas pipeline (TAP) that are interested in sale of their shares to the Italian gas transportation company Snam, Snam Executive Director Carlo Malakarne told Italian newspaper Corriere Dela Sera.

He said 20% share in the project will cost about $400 million.

The price corresponds to the current situation at the market. We will not see increase in gas consumption in Europe till 2030. It is necessary to replace the current production on the old fields by the new sources, Malakarne said.

He added that Europe must not reduce gas import from Russia, but it should look for new partners for import.

We must import gas from such places as the Caucasus, Iran in the future and North Africa, Malakarne said.

TAP is a part of the Southern Gas Corridor, which will allow Europe diversifying the sources of hydrocarbon deliveries and improving energy safety, while Azerbaijan will be able to get a new market in the face of Europe. Azerbaijani gas will open the Southern Gas Corridor.

TAP shareholders include BP (20%), SOCAR (20%), Statoil (20%), Fluxys (19%), Enagas (16%) and AXPO (5%).

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