Coming on the heels on the preliminary agreement between the P5+ 1 and Iran on its nuclear program, the Trans Adriatic Pipeline (TAP) announced that it is ready to take in new consortium shareholders -- including Iran.

TAP, which will transport natural gas from the Azeri Shah Deniz II field in the Caspian through Turkey to Europe, will thus be in a position to add Iran's immense gas reserves, currently estimated to be the second largest in the world, to the project.

"TAP is open to new shareholders, which can add strategic value to the project," Lisa Givert, TAP's communication head, told reporters in the Azeri capital Baku, commenting on the possible interest from Iran. Iranian participation in the project could proceed once sanctions long imposed on the country are lifted.