Turkey's TPAO Will Pay $1.45 bln for Total's Stake in Shah Deniz

Turkey's state oil company TPAO will pay $1.45 billion for French energy company Total's 10 percent stake in Azerbaijan's Shah Deniz gas project, Turkish Energy Minister Taner Yildiz said on Friday.

The agreement, signed at a ceremony in Istanbul earlier, increases TPAO's stake to 19 percent from a previous 9 percent, while Total exits the project.

(Reporting by Humeyra Pamuk; Writing by Nick Tattersall; Editing by Ece Toksabay)