Azerbaijan, Baku, Dec.15 /Trend R.Hafizoglu/
TANAP is a strategic project for Turkey and Azerbaijan, head of SOCAR-Turkey Enerji A.Ş. Kenan Yavuz said, TV CNBCE reports on Saturday.
The head of the company noted that the TANAP project will be carried out within five years and the pipeline will be commissioned in 2018.
Presently, a 20-percent share in TANAP belongs to Turkish BOTAS and TPAO, while 80 percent is owned by the State Oil Company of Azerbaijan (SOCAR). SOCAR intends to retain 51 percent of the equity in the project. Turkey will keep 20 percent of the equity.
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. 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.