Greece’s Depa May Buy Stake in TAP Pipeline Group, Imerisia Says

Depa SA, a Greek state-controlled natural gas supplier, may buy a stake of as much as 15 percent in the Trans-Adriatic Pipeline venture, Imerisia reported, citing unidentified people in the Greek Energy Ministry.

Depa is a backer of another pipeline project for transporting gas to Europe, the Interconnector Turkey-Greece- Italy, use of which was ruled out yesterday by companies developing the second phase of the Shah Deniz gas field in Azerbaijan, the Athens-based newspaper cited its informants as saying.

It’s planned that both the Interconnector and the Trans- Adriatic pipelines will cross Greece. Shah Deniz is being developed by BP Plc, Socar, Statoil ASA (STL), Total SA (FP), OAO Lukoil, Naftiran Intertrade Co. and Turkiye Petrolleri AO.

The Interconnector could also be used to transport to Europe recently discovered offshore deposits of gas in Cyprus and Israel, Imerisia said.

To contact the reporter on this story: Paul Tugwell in Athens at ptugwell1@bloomberg.net

To contact the editor responsible for this story: Jerrold Colten at jcolten@bloomberg.net;

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