Statoil and EGL said that E.ON’s participation will help in realizing the TAP project, which plans to build a 520km pipeline with a capacity of between 10 and 20bcm per year from Greece, through Albania and the Adriatic Sea, to Italy.
Statoil and EGL now each hold a 42.5% shareholding in the project company.
Kjetil Tungland, managing director of TAP, said: “E.ON Ruhrgas has a strong track record in the successful development of gas projects in both the upstream and downstream sectors. Their additional knowledge and expertise will further strengthen our project as we continue to make steady progress.”
TAP will open the Southern Gas Corridor by offering the shortest route to market for natural gas from the Caspian and Middle East. The project, which will improve both security and diversity of gas supply to Europe still remains open for additional partners, the company added.
