BP Sells $1 Billion Stake in TANAP Gas Pipeline to Apollo Global Management

In this photo illustration, the BP logo is displayed on a smartphone screen in front of a stock chart highlighting BP’s financial performance, energy industry trends, renewable energy initiatives, and global market activity on February 9, 2025, in Chongqing, China [Cheng Xin/Getty Images]

British energy company BP has struck a deal to transfer a $1 billion interest in its TANAP Gas Pipeline investment to Apollo Global Management, Reuters reports.

The announcement made on Friday indicates that international investment firms are showing increased interest in strategic energy infrastructure projects.

The Trans-Anatolian Natural Gas Pipeline (TANAP) functions as a vital part of the Southern Gas Corridor by moving natural gas from the Caspian Sea to European markets which helps improve regional energy security while decreasing dependence on Russian gas supplies. BP is selling off its stake to realign its investment portfolio with its strategy of backing low-carbon and transitional energy sources.

The report says Apollo Global Management will take on a major economic stake through this transaction because of its belief in sustained demand for gas and essential transit infrastructure. This transaction should close later this year if regulatory approvals are received.

BP reached another significant milestone in its transition toward diversified energy operations by keeping strategic fossil fuel assets that ensure energy security throughout Europe and beyond.

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