(MENAFN- Trend News Agency) BAKU, Azerbaijan, Jan.27. Spanish Enagás has
agreed with the Swiss company Axpo to purchase a 4% stake in Trans
Adriatic Pipeline (TAP) for 168 million euros, percentage that is
added to the 16% that the company already owns in TAP, Trend
reports with reference to the company.
“With this operation, Enagás reinforces the fulfilment of the
objective announced in the presentation of its 2022-2030 Strategic
Plan to contribute to reinforcing the security of energy supply and
decarbonisation in Europe. After the closing of the acquisition,
the shareholding composition of TAP will remain with a 20%
participation of Enagás, the same percentage as the British company
BP, the Azeri SOCAR, the Italian Snam and the Belgian Fluxys. The
latter has also achieved this percentage following an agreement to
acquire a 1% stake from Axpo,” said the company.
Enagas noted that with these two purchase operations of Axpo's
shareholding by Enagás (4%) and Fluxys (1%), the role of European
Transmission System Operators (TSOs) in this strategic
infrastructure for the European Union is strengthened, facilitating
progress in its security of supply and decarbonisation
objectives.
As the European section of the Southern Gas Corridor, TAP has
the capacity to transport approximately 10 billion cubic meters of
gas per annum (bcm/a) to several markets in Europe. The pipeline is
also designed with the potential to expand its throughput capacity
up to 20 bcm/a.
TAP is strategically and economically important to Europe and
essential in providing reliable access to a new source of natural
gas. TAP plays a significant role in boosting Europe's energy
security, supply diversification, as well as decarbonisation
objectives.
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