Adds detail on pipeline, past deals between the two companies
By Shadia Nasralla
March 21 (Reuters) - BP BP.L has agreed to sell a stake in a firm invested in the TANAP gas pipeline linking Azerbaijan and Turkey for $1 billion to Apollo Global Management APO.N, the two firms said on Friday.
CEO Murray Auchincloss is spearheading a $20 billion disposal programme through 2027 as BP looks to cut back on renewables while increasing spending on oil and gas.
BP aims to cut net debt to $14-$18 billion from around $23 billion currently.
The TANAP pipeline is part of a network that transports natural gas from the Shah Deniz gas field in the Azeri Caspian Sea to Italy and Greece.
BP is selling Apollo 25% of a company that holds a 12% stake in TANAP.
BP agreed a sale to Apollo last September of a stake in the BP unit that holds a 20% stake in the Trans Adriatic gas pipeline, part of same network as TANAP.
BP said it would continue to explore opportunities for further cooperation with Apollo, including in infrastructure, gas and low carbon energy assets.
(Reporting by Shadia Nasralla in London, additional reporting by Yamini Kalia in Bengaluru; editing by Janane Venkatraman, Mrigank Dhaniwala, Jason Neely)
((Shadia.Nasralla@thomsonreuters.com;))
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。