Italian gas infrastructure company Snam could take a stake of up to 20 percent in the project to build the Trans Adriatic Pipeline (TAP) that will carry gas from Azerbaijan to Europe, its chief executive Carlo Malacarne said on June 4, 2015, Reuters reported.
CEO Carlo Malacarne said that as gas buyers are signing binding, long-term ship-or-pay contracts for the Azeri gas, the transmission revenue is guaranteed, which opens the way for regulated infrastructure players like Snam to enter the project.
"We are ready to evaluate buying up to 20 percent of the project," Malacarne told Reuters at the Paris World Gas Conference.
TAP's current shareholders are BP (20 percent), the State Oil Company of the Azerbaijan Republic (SOCAR) (20 percent), Norway's Statoil (20 percent), Belgian gas network firm Fluxys (19 percent), Spain's Enagas (16 percent) and Swiss company Axpo (5 percent), reported Reuters.--0—
Economics
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The SOCAR-UNIPER joint venture inaugurated a 65 MW steam generator unit at the "Ethylene-Polyethylene" plant on Friday as part of activities held during COP 29. The project, aimed at boosting energy efficiency, is a significant milestone for the joint efforts of SOCAR and UNIPER in Azerbaijan’s chemical industry.
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French energy giant TotalEnergies is considering participation in solar and wind power projects in the Nakhchivan Autonomous Republic of Azerbaijan, a move discussed during talks in Baku on November 15 between TotalEnergies CEO Patrick Pouyanné and Azerbaijani government officials.
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Azerbaijan's Ministry of Energy, China Energy Overseas Investment Co. Ltd., and SOCAR Green LLC have signed an agreement to implement a 160 MW solar power project in the Fizuli district, Economy Minister Mikayil Jabbarov announced on social media on Wednesday.
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Azerbaijan's state oil company SOCAR announced plans on November 15 to issue green bonds in the Azerbaijani financial market to support environmentally sustainable projects.
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