Share reorganization of Tap (Trans Adriatic Pipeline AG), the company that will build the new gas pipeline from Azerbaijan to Italy. Enagas, the Spanish gas transport company becomes a shareholder with a 16% stake. At the same time Fluxys increased its equity stake from 16 to 19%. The new structure - informs a press release from the company - is the consequence of the purchase by Enagás and Fluxys of the 19% of shares previously in the portfolio of E.ON (9%) and Total (10%) which are now exiting the project .
TAP's shareholders are thus made up of BP (20%), SOCAR (20%), Statoil (20%), Fluxys (19%), Enagás (16%) and Axpo (5%). According to Andy Lane, Chairman of the Board of Directors of TAP AG, “as we prepare for the next decisive step of the project, the start of road and bridge construction in Albania in early 2015, I want to thank E.ON and Total for their strong support and contribution to the development of TAP and welcome Enagás as a new shareholder of TAP".
