The Trans Adriatic Pipeline (TAP) partners have announced that TAP and its existing shareholders EGL (Switzerland, 42.5%), Statoil (Norway, 42.5%) and E.ON Ruhrgas (Germany, 15%) have reached an agreement with members of the Shakh Deniz Consortium to secure funding for the TAP project. These funds will contribute towards continued work in several important areas during the period running up to the final routing decision, which is expected in 2013. The agreement also includes an option for the Shakh Deniz shareholders to take up to 50% equity in TAP.
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