TANAP important for Turkey, region - president
Baku, Azerbaijan, June 2
By Rufiz Hafizoglu - Trend:
The construction project of the Trans-Anatolian Gas Pipeline (TANAP) is an important project for Turkey, President of Turkey Recep Tayyip Erdogan said during his visit to the province of Kars, the Turkish TV channel TRT Haber reported June 2.
He said that the TANAP project is also important for the entire region.
The presidents of Azerbaijan and Turkey laid the foundation of the TANAP construction in the province of Kars on March 17, 2015.
The TANAP project envisages the 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. The gas will be supplied to Europe in early 2020 after the Trans Adriatic Pipeline (TAP) is constructed.
BP and the TANAP consortium signed March 13 a shareholder agreement, according to which BP will become one of the shareholders of TANAP. The agreement is one of the main documents for BP's ownership of a stake in the TANAP project.
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.
Edited by CN
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