A Critical Link in Europe’s Energy Security
TANAP forms the backbone of the Southern Gas Corridor, a crucial pipeline system that delivers Azerbaijani natural gas from the Shah Deniz field to Italy, Greece, and other European nations.
The acquisition builds on Apollo and BP’s previous deal in November involving the Trans Adriatic Pipeline (TAP)—the final segment of the SGC.
BP’s $20B Divestment Plan Gains Momentum
For BP, the deal aligns with its $20 billion divestment strategy, allowing it to monetize assets while maintaining operational influence.
“This transaction unlocks capital from our global portfolio while keeping our strategic role in Azerbaijan gas exports to Europe,” said William Lin, BP’s EVP of gas and low carbon energy.
He hinted at future collaborations, stating that BP and Apollo will explore additional strategic partnerships.
The agreement is subject to regulatory and shareholder approvals within TANAP.
