Overview

• 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.