'Snam' company became TAP shareholder

Baku. 18 December. REPORT.AZ/ Sale operation of 20% share of Norway's 'Statoil' Company in Trans Adriatic pipeline (TAP) project to 'Snam' gas infrastructure company of Italy ended.

Report informs, TAP consortium reports.

Thus, TAP shareholders are: BP (20%), SOCAR (20%), 'Snam S.p.A.' (20%), 'Fluxys' (19%), 'Enagas' (16%) and 'Axpo' (5%).

Ian Bradshaw, Executive Director of 'TAP-AG' expressed his satisfaction regarding official joining of 'Snam' Company to TAP project.

'Participation of 'Snam' Company in this project will strengthen strategic position of TAP project, which will carry out gas transportation to European energy market from new source', I.Bradshaw said. 

According to the company, amount of the purchase and sale transaction of "Statoil" constituted 208 mln euros.

"Snam" stated that the amount of 130 mln euros from total amount paid to "Statoil" company.

In addition, 78 mln. euros will be paid to TAP for lending. "Snam" will be represented by two delegates of the Board of Directors of TAP.

Purchase and sale transaction was signed between CEO and President of Statoil Eldar Saetre and CEO of Snam Carlo Malacarne during a meeting in Norway.