Several TAP shareholders are keen on selling shares to Italian Snam S.p.A Company

Several TAP (Trans Adriatic Pipeline) shareholders are interested in selling shares to Snam S.p.A, Group, said the Chief Executive Officer of Snam S.p.A. Carlo Malacarne.

20% share in TAP costs about $400 mln and meets current market.

Earlier, Malacarne told that the company has started evaluation works since June to acquire 20%-share in TAP.

TAP is designed for transportation of natural gas of Shahdeniz 2 to Western Europe through Greece and Albania. Annual capacity is 10 bcm of gas. However, it's possible to increase the capacity to 20 bcm. This pipeline will start to transport Azerbaijani gas in 2019.

TAP shareholders are: BP – 20%, SOCAR – 20%, Statoil – 20%, Fluxys – 19%, Enagas – 16% and EGL-Axpo – 5%.

/By AzerTac/