Baku, Azerbaijan, May 10
By Maksim Tsurkov - Trend:
Consortium of Trans-Anatolian Natural Gas Pipeline (TANAP) was able to save nearly $2.5 billion in the construction of the pipeline due to the fall in oil prices, a source in the State Oil Company of Azerbaijan (SOCAR) told Trend May 10.
The source said that the construction of TANAP is being held on schedule. "More than 30 percent of the work on delivery, placement and laying of pipes has been already completed," the source said. "More than 350 kilometer of pipes of the route have been welded. TANAP is successfully operating ahead of schedule, and it was also possible to save nearly $2.5 billion."
"We have no worries and continue to work seriously on the project, because one needs to follow up the pace until the very start of the TANAP's commissioning in 2018," said the source.
The initial cost of the project amounted to $11.7 billion. Currently, the project cost is $9.2 billion.
TANAP project envisages transportation of gas of Azerbaijan's Shah Deniz field from Georgian-Turkish border to the western borders of Turkey.
Turkey will get gas in 2018 and after completing the construction of Trans-Adriatic Pipeline (TAP), it will be delivered to Europe in early 2020.
Currently, the shareholders of TANAP are: the State Oil Company of Azerbaijan (SOCAR) - 58 percent, Botas - 30 percent and BP - 12 percent.
---
Follow the author on Twitter: @MaksimTsurkov