Wednesday, March 22, 2023

Axpo sells stake in gas pipeline TAP

by admin
0 comment


Axpo divests stake in the TAP natural gas pipeline

The energy group Axpo sells its 5 percent stake in the natural gas pipeline Trans Adriatic Pipeline (TAP). In a statement on Friday, Axpo estimated the value of the transaction at CHF 210 million.

Published: 39 minutes ago

The energy group Axpo is selling its 5 percent stake in the Trans Adriatic Pipeline (TAP) natural gas pipeline for CHF 210 million. Pictured is a worker constructing the pipeline in Albania in September 2016. (Archive image)

Completion is planned for the second half of 2023. Axpo sells one percent of the TAP stake to the Belgian company Fluxys and the remaining four percent to the Spanish company Enagás.

The two companies are now each in possession of a fifth of the pipeline, it is said. The rest is divided between the energy company BP, Socar from Azerbaijan and the Italian Snam, each with 20 percent each.

Related News

Latest Switzerland News and updates and political news, follow our daily update about the congress and the government roundup, we also provide the latest news from all over the world minute by minute, subscribe to get the latest updates directly to your inbox.

© 2022 All Right Reserved. Switzerland Times