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Rune Bjørnson, Executive Vice President for Natural Gas at Statoil said: “We are very pleased to welcome on board E.ON Ruhrgas as a new partner in TAP. Today’s move will further strengthen the TAP project and its ability to compete for gas volumes to be transported from the Caspian region to Europe.” He added: “Statoil as a resource owner in Shah Deniz is delighted to note the recent positive developments with regards to a potential gas package deal between Turkey and Azerbaijan. Such an agreement will pave the way for the development of new gas resources to the European market in which Statoil will be a key provider.” Hans Schulz, EGL CEO stated: “It has always been our intention to attract additional strong partners able to add value to this project. These include partners who are active in the construction of pipelines and gas distribution and thus contribute to TAP’s success. The project now comprises of a group of companies with complementing capabilities.” Sustainable European gas supply Jochen Weise, Member of the Board of Directors and Head of Gas Supply for E.ON Ruhrgas said: “By joining TAP we are enabling our company to place its already well diversified supply portfolio on an even broader foundation in the future, thus making an important contribution to security of supply in Europe and particularly, in southern and south-eastern Europe. With this investment, E.ON Ruhrgas focuses on the expansion of national or international transmission infrastructure. Such investments in European gas infrastructure combined with long-term gas supply contracts are indispensable so as to ensure European gas supply on a long-term basis at the familiar high standards of reliability.” The new shareholder agreement was signed in Brussels today. Due to regulatory requirements, the deal is expected to be concluded by the end of June 2010. About TAP The 520km long pipeline will transport gas via Greece and Albania and across the Adriatic Sea to Italy’s southern Puglia region and further to western Europe. The project is aimed at enhancing security of supply as well as diversification of gas supplies for the European markets. TAP will open a new so-called Southern Gas Corridor to Europe and market outlet for natural gas from the Caspian Sea and Middle East regions. The project is designed to expand transportation capacity from 10 to 20 bcm per year depending on throughput. The TAP project also envisages the development of natural gas storage facilities in Albania to further ensure security of supply during operational interruptions of gas deliveries. The Trans Adriatic Pipeline is supported by the EU as a TEN-E project (Trans European Networks – Energy), in conformance with its energy policy and has been categorized by the EU Commission as an EU Interconnector. The development of TAP will continue to comply with all EU gas transport policies. Furthermore, the project enjoys political support and is named as part of the Italy-Albania IGA (intergovernmental agreement). The project has established registered branches in all three host countries and is currently in front-end engineering. A feasibility study was concluded in 2006 with basic engineering completed in 2007 and the offshore survey finished in early 2009. TAP is committed to adhering to the highest environmental and social standards and has conducted extensive re-routing studies and consultations in Albania and southern Italy during 2009. For further information, please contact: About EGL EGL is a European energy trading company with its own assets. EGL is a leader in proprietary trading, in the sale of standardised products and in the development of structured products and innovative services for customers. EGL is accredited to trade on all major European energy exchanges and is listed on the SIX Swiss Exchange. Its head office is in Dietikon, near Zurich (Switzerland). It also has a local presence in many parts of Europe, through more than 20 of its subsidiaries. About Statoil Statoil is an international energy company with operations in 40 countries. Building on more than 35 years of experience from oil and gas production on the Norwegian continental shelf, the company is committed to accommodating the world's energy needs in a responsible manner, applying technology and creating innovative business solutions. Statoil is headquartered in Norway with 30,000 employees worldwide. The company is the world’s largest operator of deepwater fields. It a major seller of crude oil and a Europe’s second largest gas supplier. Statoil is listed on Oslo Børs and New York Stock Exchange. E.ON Ruhrgas |
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