E.ON firms TAP stake

In the pipe: TAP secures new partner

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Aleya Begum

 07 July 2010 09:44 GMT

Norwegian operator Statoil and EGL today announced the successful financial close of E.ON Ruhrgas’s 15% shareholding in the Trans Adriatic Pipeline (TAP) project.



Statoil and EGL now each hold a 42.5% shareholding in the project company.

The TAP project plans to build a 520-kilometre long pipeline to transport between 10 billion and 20 billion cubic metres of gas per year from Greece, through Albania and the Adriatic Sea to Italy.

“TAP will open the Southern Gas Corridor by offering the shortest route to market for natural gas from the Caspian and Middle East,” said TAP managing director Kjetil Tungland.

“T he project, which will enhance both security and diversity of gas supply to Europe still…

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