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BAKU, July 20 (Reuters) - Norway's Statoil is tosell its 20-percent stake in the Trans Adriatic Gas Pipeline(TAP) project that will carry gas from Azerbaijan to Europe, thepresident of Azeri state energy firm SOCAR said.
"Statoil has decided to leave the TAP project completely,and there is a company which is ready to buy its stake," RovnagAbdullayev told Azeri ANS TV late on Friday.
"Several companies have expressed an interest in buyingStatoil's stake, and it would be better if several companieswould buy it," he added.
Statoil did not comment on the news.
"We generally do not comment on speculations on adjustmentsto our portfolio," Statoil's spokesman told Reuters.
The TAP pipeline is a part of project that is designed totransport 16 billion cubic metres (bcm) of gas from Azerbaijan'sShah Deniz II field in the Caspian Sea, one of the world'slargest gas fields, by the end of the decade.
The 870 kilometre (545 mile) pipeline will connect with theTrans Anatolian Pipeline (TANAP) near the Turkish-Greek borderat Kipoi, cross Greece and Albania and the Adriatic Sea, beforereaching southern Italy.
Statoil has already sold its shares in Azerbaijan's ShahDeniz gas field as well as the South Caucasus Pipeline (SCP) toSOCAR, BP and Malaysia's Petronas.
Italian gas infrastructure company Snam said last month thatit could take a stake of up to 20 percent in the TAP projectthat is designed to reduce Europe's reliance on Russian gas.
CEO Carlo Malacarne said that as gas buyers are signingbinding, long-term ship-or-pay contracts for the Azeri gas, thetransmission revenue is guaranteed and this opened the way forregulated infrastructure players like Snam to enter the project.
Officials decline to comment on the price, but insiders saya 20 percent TAP stake could be valued at around 400 millioneuros ($433.72 million).
TAP's shareholders are BP (20 percent), SOCAR (20percent), Statoil (20 percent), Belgium's Fluxys (19percent), Spain's Enagas (16 percent) and Swisscompany Axpo (5 percent).($1 = 0.9223 euros) (Reporting by Nailia Bagirova; Additional reporting by NerijusAdomaitis; Writing by Margarita Antidze; Editing by AlexanderWinning and Louise Heavens)