SOCAR: TANAP gas pipeline is continuation of Shah Deniz

Oil&Gas Materials 9 October 2012 19:21 (UTC +04:00)

Azerbaijan, Baku, Oct.9 /Trend E.Ismayilov/

The Project of Trans Anatolian gas pipeline (TANAP) is continuation of Shah Deniz gas condensate field development project, but not a part of it, the head of SOCAR (State Oil Company of Azerbaijan) Rovnag Abdullayev told journalists on Tuesday.

In his words, SOCAR has presented its proposals on selling up to 29 percent of TANAP shares to BP, Statoil and Total. The proposals are made to this major companies, as they will assist the project development in future.

This proposal doesn't have to be made to all Shah Deniz contractors.

20 percent share of TANAP is currently owned by BOTAS, SOCAR has 80 percent share.
SOCAR is going to keep 51 percent of project shares, Turkey - 20 percent.

TANAP project envisages construction of the pipeline from the eastern border of Turkey to the country's western border to supply gas from Azerbaijani Shah Deniz gas field to Europe through Turkey.

On June, 26 Azerbaijan and Turkey signed an intergovernmental agreement on 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.