Statoil to sell its TAP share for 208 million euros

Norway's Statoil will sell its interest in the Trans-Adriatic Pipeline (TAP) project to the Italian Snam company for 208 million euros, Statoil stated in its report.

This amount is for 20% of Statoil’s share in TAP and its pro-quota portion of the loans currently granted to TAP by its shareholders.

The TAP project will transport Azerbaijani gas from the Shah-Deniz field to Europe.