Turkey appreciates TANAP project - ex-minister

Turkey appreciates TANAP project - ex-minister

Baku, Azerbaijan, June 28

By Rufiz Hafizoglu - Trend:

Ankara appreciates the Trans-Anatolian Natural Gas Pipeline project (TANAP), ex-Minister of Turkey for EU Affairs Egemen Bagis told Trend June 28.

He said that this project is not an alternative to any energy project, on the contrary, TANAP strengthens other energy projects.

Bagis went on to add that TANAP, which is a clear example of the Turkish-Azerbaijani cooperation, also makes a significant contribution to the energy security of Europe.

"The importance of TANAP project lies in its energy and political benefits," said Bagis.

The former minister said that at present, Turkey is committed to providing its energy needs.

"Given the fact that Ankara intends to meet its energy needs, one can say that the Southern Gas Corridor is also an important project," he said.

The heads of Azerbaijan, Turkey and Georgia have laid the foundation of TANAP gas pipeline in the Turkish province of Kars March 17, 2015.

TANAP 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 receive gas in 2018, and after the Trans-Adriatic Pipeline (TAP) is constructed the gas will be delivered to Europe in early 2020.

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.

---

Follow the author on Twitter: @rhafizoglu

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