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Turkish president ratifies TANAP agreement

Oil&Gas Materials 10 October 2012 13:17 (UTC +04:00)
Turkish president Abdulla Gul has recently ratified an intergovernmental agreement on the realisation of Trans Anatolian gas pipeline (TANAP) project, Turkish Official newspaper reported on Wednesday.
Turkish president ratifies TANAP agreement

Azerbaijan, Baku, Oct. 10 /Trend A.Tagiyeva/

Turkish president Abdulla Gul has recently ratified an intergovernmental agreement on the realisation of Trans Anatolian gas pipeline (TANAP) project, Turkish Official newspaper reported on Wednesday.

Azerbaijan and Turkey signed the agreement on the TANAP gas pipeline's realisation on June 26.

In December of last year Azerbaijan and Turkey signed a memorandum of mutual understanding on the establishment of a consortium which will construct a gas pipeline for supply from the Shah Deniz field to Europe through Turkey. Turkish BOTAS owns a 20 per cent share of TANAP, whilst SOCAR has 80 per cent.

The initial capacity of the pipeline is expected at 16 billion cubic meters a year. Around six billion cubic meters will be supplied to Turkey, with the rest to Europe.

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