Total, BP Buy Into Euro Pipeline As Export Decision Nears

Law360, New York (January 22, 2013, 9:14 PM EST) -- BP PLC and Total SA have bought a 50 percent stake in the €1.5 billion ($2 billion) Trans-Adriatic Pipeline, tightening ties with one of two possible export routes for gas they are drilling in the Caspian Sea, the pipeline's owners said Tuesday.

The move comes as the development consortium, which also includes Norway's Statoil ASA, Russia's Lukoil OAO, and the national oil companies of Iran, Turkey and Azerbaijan, inches closer to a mid-2013 target date to choose either TAP or a rival pipeline, Nabucco West, to...
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