SOCAR officially invited partners to participation in TANAP project
Azerbaijan, Baku, Oct. 3 /Trend E.Ismayilov/
SOCAR has presented an official proposal on participation in TANAP to BP, Statoil and Total companies, a high ranking SOCAR representative reported to Trend on Wednesday.
"We have already sent letters to BP, Statoil and Total with 29 per cent of shares, this is our official proposal," SOCAR representative noted.
Regarding the share of each company in TANAP project, SOCAR representative stated that companies will define them themselves.
According to SOCAR representative, each party has already informed SOCAR on reception of the proposal and on respective work conducted in this direction.
20 per cent share of TANAP currently belongs to Turkish BOTAS, SOCAR has 80 per cent share. Previously SOCAR noted that it welcomes 3 more companies in this project - BP, Statoil and Total.
According to the head of company Rovnag Abdullayev, SOCAR is going to retain 51 per cent of its share in TANAP. He added that Turkey will hold 20 per cent and 29 per cent is going to be distributed among new shareholders.
The TANAP project envisages construction of the pipeline from the eastern border of Turkey to the country's western border to supply gas from the Azerbaijani Shah Deniz gas field to Europe through Turkey.
On June, 26 Azerbaijan and Turkey signed an intergovernmental agreement on the TANAP implementation.
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.