In a significant energy sector move, Apollo Global Management has agreed to acquire a 25% noncontrolling stake in a BP entity tied to the Trans-Anatolian Natural Gas Pipeline (TANAP) for $1 billion, the companies announced Friday.
The deal marks a major milestone in Apollo’s growing footprint in global energy infrastructure, while allowing BP to unlock capital without relinquishing control of a key asset.
Strategic Energy Shift: BP and Apollo Deepen Ties
The transaction, expected to close in Q2 2025, involves BP Pipelines Ltd., which holds BP’s 12% stake in TANAP—a vital 1,100-mile natural gas pipeline that runs across Turkey, serving as the central artery of the Southern Gas Corridor (SGC).
Apollo’s “patient capital” strategy targets long-term, stable returns in energy infrastructure, and this latest acquisition reinforces the firm’s commitment to European energy security.
“This investment highlights Apollo’s ability to provide capital for high-quality infrastructure opportunities in Europe,” said Apollo partner Leslie Mapondera.
