Snam has agreed to buy Statoil’s 20% stake in the Trans Adriatic Pipeline AG (TAP) for US $137.6m. “Snam will also enter in the term credit facility agreement currently granted by Statoil to TAP for a nominal amount of $82.6m (?78m). The total consideration will be adjusted at closing. As a result of the transaction, Snam will take over all of Statoil’s rights and duties related to the development of the project,” Snam said.
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