Arab Today, arab today socar bp total to get 50 stake in transadriatic pipeline project
Last Updated : GMT 13:24:47
Arab Today, arab today
Arab Today, arab today

SOCAR, BP, Total to get 50% stake in Trans-Adriatic Pipeline project

Arab Today, arab today

Arab Today, arab today SOCAR, BP, Total to get 50% stake in Trans-Adriatic Pipeline project

Baku - Itar-Tass

The State Oil Company of Azerbaijan Republic, Britain’s oil and gas company BP and France’s Total will get a 50 percent stake in the Trans-Adriatic Pipeline project, SOCAR President Rovnag Abdullayev told reporters on Wednesday. “We want to become major shareholders in the project. SOCAR, BP and Total are expected to get a 50 percent stake - SOCAR and BP will acquire a 20 percent stake each and the French company - 10 percent,” Abdullayev said. A shareholders’ agreement with the Trans-Adriatic Pipeline consortium will be signed until the end of the year. The SOCAR president said within the similar timeframe a gas sale and purchase contract with Europe’s customers will be signed. Among main customers of Azerbaijan’s gas that will be pumped through the Trans-Adriatic Pipeline are Greece, Italy and Bulgaria. On June 28 Baku officially announced it chose the Trans-Adriatic Pipeline as a route to supply Azerbaijani gas to Europe. This gas will be produced within the framework of the second stage of development of the Shakh Deniz offshore gas field in the Caspian Sea with estimated reserves of 1.2 trillion cubic meters. The Trans-Adriatic Pipeline will stretch 478 kilometers through the territory of Greece from Komotini (northeastern Greece) across Albania (209 kilomteres) and the Adriatic Sea bed (105 kilometers) to Brindisi in southern Italy. The pipeline’s construction will start in late 2014-early 2015 and will be completed in 2018. The first gas supplies are scheduled for early 2019. The Trans-Adriatic Pipeline’s initial annual throughput is 10 billion cubic meters, which may grow to 20 billion cubic meters with the construction of compressor stations in Greece and Albania. Investments into the project will total $40 billion. The pipeline’s current shareholders are Switzerland’s AXPO with a 42.5 percent stake, Norway’s Statoil with a 42.5 percent stake and Germany’s E.ON Ruhrgas with a 15 percent stake. Within the framework of the second stage of the Shakh Deniz oil development project Azerbaijan plans to produce 16 billion cubic meters of gas a year.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today socar bp total to get 50 stake in transadriatic pipeline project Arab Today, arab today socar bp total to get 50 stake in transadriatic pipeline project

 



Arab Today, arab today
Arab Today, arab today Kanye West puts hijab-wearing model

GMT 12:22 2017 Monday ,20 February

Kanye West puts hijab-wearing model
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today To release new antiques collection

GMT 20:33 2017 Friday ,17 February

To release new antiques collection
Arab Today, arab today Optimism on the front line

GMT 07:24 2017 Monday ,20 February

Optimism on the front line
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic

GMT 16:23 2017 Sunday ,19 February

Global energy news

GMT 16:05 2017 Sunday ,19 February

Trudeau calls for wider social benefit from economy

GMT 05:57 2017 Sunday ,19 February

How do you say déjà vu in Greek?

GMT 05:26 2017 Sunday ,19 February

US natural gas market tightens

GMT 05:06 2017 Sunday ,19 February

Merkel: Euro is too low for Germany

GMT 04:58 2017 Sunday ,19 February

Swedish PM: Brexit deal in 2 years is unlikely
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Porsche reveals new 2018 Panamera

GMT 17:31 2017 Wednesday ,15 February

Porsche reveals new 2018 Panamera
Arab Today, arab today Egypt to hold first session of Arab film festival

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 07:30 2017 Saturday ,18 February

Actress Nadeen Al Rassi views art as her entity

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 16:08 2017 Wednesday ,15 February

Shawsh reveals her collection "Jewelry of dreams"

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 14:04 2017 Tuesday ,14 February

"Lagom" new Swedish concept in interior design

GMT 12:07 2017 Thursday ,16 February

Bite-mimicking malaria vaccine

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 17:36 2017 Monday ,13 February

Designer prepares to present 2017 collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday