SOCAR: Turkey's TANAP gas pipeline share can be increased

Photo: SOCAR: Turkey's TANAP gas pipeline share can be increased  / Oil&Gas

Baku, Azerbaijan, Dec. 10

By Emil Ismayilov - Trend:

Turkey's share in the Trans-Anatolian gas pipeline (TANAP) project can be increased from the current 20 per cent, SOCAR head Rovnag Abdullayev told the media today.

At present, this issue is being discussed," he said.

Abdullayev added that Turkey's share may be increased through shares offered to Statoil and Total in the TANAP project.

Presently, a 20 per cent share in TANAP belongs to Turkey, while 80 per cent is owned by Azerbaijan.

Earlier, SOCAR partners on the Shah Deniz gas field development project voiced their preliminary intentions to acquire a stake in the TANAP project. According to the primary data, the partners intend to distribute a 29 per cent share in TANAP (Azerbaijan's 80 per cent stake) as follows: Statoil and BP are to receive 12 per cent each and Total would get five per cent.

SOCAR is preparing to launch TANAP in 2018.

The TANAP project envisages gas transportation from the Azerbaijani Shah Deniz gas field to Europe through Turkey. The initial capacity of the pipeline is expected to reach 16 billion cubic meters a year. About six billion cubic meters will be delivered to Turkey and the rest to Europe. In future it can be extended up to 31 billion cubic meters per year.

Translated by NH

Edited by SM

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Tags: SOCAR, TANAP