Baku, Azerbaijan, Feb. 11
By Maksim Tsurkov - Trend:
The State Oil Company of Azerbaijan (SOCAR) has no plans to sell its stake in the Trans-Anatolian Natural Gas Pipeline project (TANAP), head of SOCAR Rovnag Abdullayev said during the IP Week conference in London, Russian media outlets reported.
It was earlier reported that SOCAR Turkey Enerji planned to acquire a 7 percent stake in TANAP gas pipeline in August 2015 from SOCAR, which currently owns a 58 percent stake.
TANAP project envisages transportation of gas of Azerbaijan's Shah Deniz field from the Georgian-Turkish border to the western borders of Turkey.
TANAP's initial capacity is expected to reach 16 billion cubic meters of gas per year. Around six billion cubic meters of this gas will be delivered to Turkey and the rest of the volume to Europe. Turkey will obtain gas in 2018, while Europe will get it in early 2020 after the Trans Adriatic Pipeline (TAP) is constructed.
Following the completion of a legal implementation procedure, TANAP's shareholders list will be as follows: SOCAR - 58 percent, Botas - 30 percent and BP - 12 percent.
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