Statoil to leave trans-Adriatic gas pipeline project

Baku

NORWAY'S Statoil is to sell its 20 per cent stake in the Trans Adriatic Gas Pipeline (TAP) project that will carry gas from Azerbaijan to Europe, the president of Azeri state energy firm Socar said.

"Statoil has decided to leave the TAP project completely, and there is a company which is ready to buy its stake," Rovnag Abdullayev told Azeri ANS TV. "Several companies have expressed an interest in buying Statoil's stake, and it would be better if several companies would buy it."