BP Weighs Turkish Pipeline Stake As Path To Europe

Law360, New York (July 19, 2012, 3:25 PM EDT) -- BP PLC has been approached by Azerbaijan's state-owned energy firm about buying a stake in a planned $7 billion cross-Turkey pipeline that would carry gas from BP's Caspian Sea drilling to Europe's doorstep, the company said Thursday.

The State Oil Company of Azerbaijan Republic, or SOCAR, is seeking participation from BP in the still-unbuilt Trans-Anatolian Pipeline, a BP representative confirmed. He did not say how big a piece of the project BP might take, only that talks were ongoing and that any stake would be “material.”...
To view the full article, register now.