BP Sells $1 Billion Stake in Trans Adriatic Pipeline

The deal allows BP to retain control while Apollo gains a stable income stream from the European gas link.

BP has sold a 20% stake in the Trans Adriatic Pipeline to Apollo Global Management for $1 billion.
The pipeline transports natural gas from the Caspian Sea to Southern Europe, enhancing regional energy security.
BP will continue to manage the pipeline, maintaining governance control despite the sale.
Proceeds from the deal will contribute to BP’s 2024 divestment goals amid falling oil prices and shareholder pressures.
Apollo's investment aligns with its strategy to target high-grade infrastructure assets with stable cash flows.