Major Investment in BP Pipelines

In a significant move, Apollo Global Management has agreed to acquire a 25% non-controlling stake in BP Pipelines for approximately $1 billion. This strategic investment is set to be finalized by the second quarter of 2025, marking a pivotal moment for both entities.

Strategic Asset and Future Prospects

BP Pipelines, holding a 12% interest in the Trans-Anatolian gas pipeline (TANAP), plays a crucial role in transporting natural gas from Azerbaijan through Turkey. This deal not only underscores the value of BP's global portfolio but also highlights the potential for further collaboration between BP and Apollo. William Lin, BP's Executive Vice President of gas and low carbon energy, emphasized the importance of this partnership, stating, "This unlocks capital from our global portfolio while retaining our role in this strategic asset for bringing Azerbaijan gas to Europe. bp and Apollo will continue to explore further strategic cooperation and mutually beneficial opportunities."