Gunvor acquires 10% of TAL pipeline

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Gunvor acquires 10% of TAL pipeline

MOSCOW. Dec 6 (Interfax) - Gunvor Group has acquired a 10% stake in the Transalpine Pipeline (TAL), which supplies its oil refinery in Ingolstadt, Germany (Gunvor Raffinerie Ingolstadt, GRI), Gunvor said in a press release.

The deal closed on December 4.

"This acquisition will allow Gunvor to secure a long-term crude supply to GRI, the press release said.

"The Ingolstadt refinery, which Gunvor purchased in August, serves the markets in Southern Germany and Upper Austria, providing an important fuel supply and competition to the land-locked area," Gunvor said.

In addition to Gunvor, TAL's shareholders currently include: OMV (25%), Shell (24%), Ruhr Oel (11%), Eni (10%), BP (9%), ExxonMobil (6%), ConocoPhilips (3%) and Total (2%).