Snam S.p.A. to Join TAP Shareholding, Acquiring 20% Stake in the Project from Statoil
Following closing, TAP’s shareholding will be comprised of BP (20%), SOCAR (20%), Snam S.p.A. (20%), Fluxys (19%), Enagás (16%) and Axpo (5%).
Ian Bradshaw, Managing Director for TAP, said: "I am delighted that Snam S.p.A. will join the TAP project. The TAP joint venture has always been open to new strategic partners and I will be very pleased to welcome Snam S.p.A. to TAP. This continues our successful joint venture model that has brought producers, midstream players and gas buyers together to develop this important project. Having Snam in the project will continue to enhance TAP’s strategic position as a truly European project that will transport a new source of gas to the continent’s energy markets.”
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