TAP sign Shareholder Agreement with SOCAR, BP and Total

TAP and its shareholders Axpo, Statoil and E.ON have signed a shareholder agreement with three members of the Shah Deniz Consortium - SOCAR, BP and Total, TAP reported today.

The agreement stipulates how the TAP joint venture will be governed.

The agreement will come into affect if SOCAR, BP and TOTAL decide to use the TAP project to deliver Azerbaijani gas to Europe.

The TAP project is one of the key elements of the broader Southern Gas Corridor chain, which along with the Trans Anatolian Pipeline (TANAP) and the South Caucasus Pipeline (SCP) will transport gas from the Shah Deniz deposit to the European Union.

Adapted from: Vestnik Kavkaza