Last year Petronas bought 15.5% stake of Statoil in Shah Deniz project and the South Caucasus pipeline. The agreement is estimated at $2.25 billion.
Petronas Azerbaijan (Shah Deniz) S.A.R.L company was registered by Azerbaijan’s Ministry of Taxes on 9 June 2015.
Shah Deniz’s shareholders include BP (operator – 28.8%), SOCAR (16.7%), Statoil (15.5%), LUKoil (10%), NICO (10%) and TPAO (19%)
From 2018 the 870-kilometer (541-mile) TAP project will initially deliver 10 billion cubic meters of gas annually from the Shah Deniz fields through Greece and Albania to Italy. The pipeline, which should eventually be able to deliver 20 bcm of gas a year, will connect to Tanap, a pipeline that will stretch 1,841 kilometers into Turkey.
TAP’s other shareholders include BP Plc and SOCAR, which each hold 20%, as well as Fluxys Belgium with 19%, Enagas SA of Spain with 16% and Axpo with 5%.
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