The future of novel 3D display technologies largely depends on the design of efficient techniques for 3D video representation and coding. Recently, multiple view plus depth video formats have attracted many research efforts since they enable intermediate view estimation and permit to efficiently represent and compress 3D video sequences. In this paper we present Spatio-Temporal Occlusion compensation with Panorama view (STOP), a novel 3D video coding technique based on the creation of a panorama view and occlusion coding in terms of spatio-temporal offsets. The panorama picture represents most of the visual information acquired from multiple views using a single virtual view, characterized by a larger field of view. Encoding the panorama video with state of the art HECV and representing occlusions with simple spatio-temporal ancillary information STOP achieves high compression ratio and good visual quality with competitive results with respect to competing techniques. Moreover, STOP enables free view point 3D TV applications whilst allowing legacy display to get a bi-dimensional service by using a standard video codec and simple cropping operations.