TPAO increases stakes in Shah Deniz field and South Caucasus pipeline
Published by Rosalie Starling,
Editor - Hydrocarbon Engineering
91天堂原創 Pipelines,
Turkish Petroleum Corporation (TPAO) is set to acquire Total SA's 10% share in the Shah Deniz gas field and the South Caucasus pipeline at cost of US$1.45 billion.
Michael Borrell, Total E&P Senior Vice President of Continental Europe and Central Asia, said: 鈥淭his sale is another step forward in achieving our asset sale programme. Following this operation, the group will have sold nearly US$16 billion worth of assets since 2012, in line with its US$15 - 20 billion asset sale target.鈥�
During the signing ceremony, another deal between the Turkish Pipeline Corporation (BOTAS) and the State Oil Company of Azerbaijan Republic (SOCAR) regarding increasing the Turkish stake in the Trans-Anatolian gas pipeline (TANAP) from 20% to 30% took place. Both deals represent Turkey鈥檚 efforts to diversify its energy resources and build connections with gas-producing countries in order to decrease its reliance on particular producers such as Russia.
Edited from various sources by
Read the article online at: /business-news/02062014/tpao_increases_stakes_in_shah_deniz_field_and_south_caucasus_pipeline_441/
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