Petronas to buy Statoil’s stake in TAP?

The Malaysian oil and gas company Petronas is rumoured to be considering buying Statoil’s 20% stake in the Trans Adriatic Pipeline (TAP) pipeline project linking Albania to Italy under the Adriatic Sea. On completion, the 870km TAP will be capable of  delivering  up to 10bn m³ of natural gas from Azerbaijan’s Caspian Sea gas fields to Western Europe. As well as Statoil, the current shareholders in TAP are BP (20%), SOCAR (20%), Fluxys (19%), Enagas (16%) and Axpo (5%).
Founded in 1974, Petronas is wholly owned by the Malaysian Government and controls all the country’s oil and gas resources.  Malaysia is the second largest exporter of liquefied natural gas in the world with an estimated 83 trn ft³ of proven natural gas reserves as of 2013.
Source: News.AZ