The Spanish company ENAGAS became a new shareholder of the TAP project

Baku. 30 September. REPORT.AZ/ Spanish company ENAGAS acquired 16% stake in the consortium Trans Adriatic Pipeline AG (TAP), Report informs citing the press service of the TAP. The company also noted that shareholder consortium of the company Fluxys increased its stake in TAP project from 16% to 19%. Changes in the composition of the consortium members and the equity of companies became possible after the acquisition of shares in companies E.ON and Total, which had in the draft TAP 9% and 10% respectively.

At the moment shares in TAP are distributed as follows: BP (20%), SOCAR (20%), Statoil (20%), Fluxys (19%), ENAGAS (16%) and Axpo (5%).

TAP project designed to transport gas from the Caspian region via Greece, Albania and the Adriatic Sea to southern Italy and then - to the Western Europe.

TAP is selected by "Shah Deniz" shareholders as a route for transporting Azerbaijani gas to Europe.

Gas, which will be produced in the second phase of development of Azerbaijani gas condensate field "Shah Deniz", is considered as the main source for the project.

The initial capacity of the pipeline is 10 billion cubic meters of gas per year, expandable to 20 billion cubic meters.