BP Sells $1B Stake in Key Azerbaijan-Turkiye Gas Pipeline

BP plc (BP) , the UK-based energy major, has secured a $1 billion deal with Apollo-managed funds to divest a 25% non-controlling stake in BP Pipelines (TANAP), which holds BP’s 12% interest in the Trans-Anatolian Natural Gas Pipeline (TANAP). This pipeline is a crucial segment of the Southern Gas Corridor (“SGC”), transporting natural gas from Azerbaijan’s Shah Deniz field to European markets via Türkiye.The agreement builds on the companies' previous transaction in November 2024, when Apollo acquired a sta ...