Apollo Funds Secures Significant Stake in BP Pipelines

In a landmark deal, Apollo Funds has agreed to acquire a 25% non-controlling stake in BP Pipelines for approximately $1 billion. This strategic investment is poised to close by the second quarter of 2025, marking a significant move in the energy sector.

Strategic Implications for BP and Apollo

BP Pipelines, which holds a 12% interest in the Trans-Anatolian gas pipeline (TANAP), plays a crucial role in transporting natural gas from Azerbaijan through Turkey to Europe. This partnership not only unlocks capital for BP's ambitious $20 billion divestment plan but also strengthens Apollo's footprint in the global energy infrastructure. William Lin, BP's Executive Vice President of gas and low carbon energy, highlighted the potential for further strategic cooperation between the two entities, signaling a promising horizon for collaborative ventures.