BAKU, Azerbaijan, July 7. In April 2023 the Trans Adriatic Pipeline (TAP) AG consortium distributed dividends to its shareholders in the amount of 265,000,000 euros, Trend reports.
The portion of the Southern Gas Corridor closed joint-stock company (CJSC) of this dividend distribution was equal to 53,000,000 euros.
TAP transports natural gas from the giant Shah Deniz field in the Azerbaijani sector of the Caspian Sea to Europe. The 878 km long pipeline connects with the Trans Anatolian Pipeline (TANAP) at the Turkish-Greek border in Kipoi, crosses Greece and Albania and the Adriatic Sea, before coming ashore in Southern Italy. Its initial capacity is 10 billion cubic meters per year, expandable to 20 billion cubic meters.
TAP’s shareholding is comprised of bp (20%), SOCAR (20%), Snam (20%), Fluxys (19%), Enagás (16%) and Axpo (5%).
SGC was founded on 31 March 2014 by the state (Azerbaijan’s economy ministry of (51 percent) and SOCAR (49 percent)).
All of SOCAR’s participating interests in the SGC projects were transferred to Southern Gas Corridor CJSC.
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