Baku, Azerbaijan, May 8
By Rufiz Hafizoglu - Trend:
TANAP project will give a great impetus to the development of the whole region, the governor of Turkey's Edirne province told Trend May 8.
Governor Dursun Ali Sahin said that TANAP is also a bright example of Azerbaijani-Turkish relations.
TANAP gas pipeline can be compared with the culture that extends from the East to the West, according to the governor.
The TANAP project envisages the transportation of gas of Azerbaijan's Shah Deniz field from the Georgian-Turkish border to the western borders of Turkey. TANAP's initial capacity is expected to reach 16 billion cubic meters of gas per year.
Around six billion cubic meters of this gas will be delivered to Turkey and the rest of the volume to Europe. Turkey will obtain gas in 2018. The gas will be supplied to Europe in early 2020 after the Trans Adriatic Pipeline (TAP) is constructed. The project's cost is estimated at $10-$11 billion.
BP and the TANAP consortium signed March 13 a shareholder agreement, according to which BP will become one of the shareholders of TANAP. The agreement is one of the main documents for BP's ownership of a stake in the TANAP project.
Following the completion of a legal implementation procedure, TANAP's shareholders list will be as follows: SOCAR - 58 percent, Botas - 30 percent and BP - 12 percent.
Edited by CN
---
Follow the author on Twitter: @rhafizoglu