Obtaining 66% stake of Greek DESFA to laid ground to SOCAR take active part in implementation of TAP project, Rovnag Abdullayev

Baku, December 30 (AZERTAC). Acquiring 66% stake of Greece`s gas grid operator DESFA will laid ground for SOCAR to take active part in implementation of the Trans-Adriatic (TAP) project, said SOCAR President Rovnag Abdullayev in an annual meeting on the outcomes of the year 2013.

According to the SOCAR President, 800-km TAP pipeline will transport natural gas as part of the Shah Deniz-2 project from the Caspian Sea. The major part of the pipeline runs through Greece. He added SOCAR tries to get additional revenue from participation in construction of the TAP.

An agreement to purchase 66 per cent stock in Greek gas distribution state company DESFA was signed between SOCAR, the Hellenic Republic Assets Development Fund (HRADF), and the Petroleum Company on December 21.