Italian "Snam" company can take stake in TAP

Azerbaijani President Ilham Aliyev considers it possible

Baku. 9 July. REPORT.AZ/ Azerbaijani side is open for discussion on Italian company "Snam" taking a stake in Trans-Adriatic gas pipeline (TAP) project. 

Report informs referring to Reuters, today the Azerbaijani President Ilham Aliyev told journalists in Italy.

During his speech at "Milan EXPO-2015" exhibition, the President noted the possibility of one of the shareholders selling a stake: "Why not? If someone would allocate its shares to other companies, I do not see any problem."

In an interview with "Reuters" in June, "Snam" CEO Carlo Malacarne stated that the company started to work on the assessment to buy 20% stake in TAP.

The President Ilham Aliyev said that the construction of TAP is expected to be completed in 2020.

TAP's current shareholders are BP (20 percent), the State Oil Company of the Azerbaijan Republic (SOCAR) (20 percent), Norway's Statoil (20 percent), Belgium's Fluxys (19 percent), Spain's Enagas (16 percent) and Swiss company Axpo (5 percent).

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