Enagás Joins TAP Project

Enagás joined the Trans Adriatic Project buying a 16% stake in the company, partly compensating for the exit of E.ON and Total, who are selling 9% and 10% respectively. 

Fluxys is buying another 3% of the project, with its stake increasing from 16% to 19%. 

Fluxys and Enagás are now the fourth and the fifth main stakeholders, after BP, Socar and Statoil. The British company, like the Azerbaijani and the Norwegian, own 20% each. Axpo keeps its 5% stake.  

‘The TAP Joint Venture has always been open to new strategic partners and I am very pleased to welcome Enagás to TAP. This continues our successful joint-venture model that has brought producers, midstream players and gas buyers together to develop this important project,’ Kjetil Tungland, Managing Director at TAP commented in a note released on Monday.

The project will connect the city of Kipoi on the Turkish-Greek border to Italy, passing through Greece, Albania and the Adriatic Sea.