BP Snags Major Stake In $2B Trans-Adriatic Pipeline

Law360, New York (July 10, 2013, 5:21 PM EDT) -- BP PLC and two other members of the Shah Deniz consortium developing Azerbaijan’s gas fields will split a 50 percent stake in the $2 billion Trans-Adriatic Pipeline, a landmark project aimed at carrying gas from the Caspian Sea to Europe, one of the companies’ presidents told reporters Wednesday.

BP and the State Oil Company of Azerbaijan Republic will each have a 20 percent interest in the effort, while French oil and gas giant Total SA will grab a 10 percent slice, SOCAR President Rovnag Abdullayev has said, according...
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