Baku, Azerbaijan, Feb.15
By Rufiz Hafizoglu - Trend:
Turkey's gas demand will increase by 60 percent by 2035, president of BP Turkey, Bud Fackrell said at the conference held at the Caspian Strategic Institute (HASEN) on Feb. 14, the institute said on Feb.15.
The implementation of Trans-Anatolian gas pipeline project (TANAP) within the Southern Gas Corridor will allow to meet Turkey's gas demand, according to Fackrell.
The TANAP project envisages gas transportation from the Shah Deniz field to Europe via Turkey.
The Southern Gas Corridor is a project that will allow Europe to diversify its sources of hydrocarbon supply and strengthen energy security and for Azerbaijan to get a new market in Europe.
The initial capacity of the pipeline is expected to reach 16 billion of cubic meters a year. About six billion cubic meters will be delivered to Turkey and the rest to Europe. In future, it can be extended up to 31 billion cubic meters per year.
The TANAP partners are expected to be: SOCAR, operator (68 percent), BOTAS (20 percent) and BP (12 percent) following the purchase of TANAP interests by BOTAS and BP that are expected to be completed in 2014.
The total investments in the implementation of the project will be $8-10 billion.
Translated by R.A.