Following the divestment of its share in the Shah Deniz gas field in Azerbaijan, Statoil has agreed to sell its 20% interest in Trans Adriatic Pipeline AG to the Italian gas infrastructure company Snam SpA for a total consideration of EUR 208 million.
This amount is for both Statoil’s shares in TAP and its pro-quota portion of the loans currently granted to TAP by its shareholders.
The total consideration will be adjusted at closing.
Statoil and Snam have agreed to undertake the transaction provided certain conditions are met. The transaction is expected to close by end 2015.