E.On Ruhrgas Wednesday closed its acquisition of a 15% stake in the Trans Adriatic Pipeline (TAP) project. Norway’s Statoil and Swiss utility EGL - which now have 42.5% each - called the deal a significant step in realizing TAP, a planned 520 km pipeline of 10 Bcm-20 Bcm/yr capacity running from Greece, via Albania and the Adriatic Sea, to Italy. German power giant E.On had said in May that its gas subsidiary would join (IOD May22,p8). But TAP is still far from reaching a final investment decision, despite being included in an Italy-Albania intergovernmental agreement.
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