Baku, Azerbaijan, Jan.5
By Leman Zeynalova – Trend:
General Manager and Board Member of PASHA Yatirim Bankasi A.S. (subsidiary of Azerbaijan’s PASHA Bank in Turkey) Cenk Eynehan has talked about expectations from the Trans-Anatolian Natural Gas Pipeline (TANAP) project.
The construction of TANAP and Iron Silk Road in coming years will pave the way for bigger trade turnover between Azerbaijan, Turkey and Georgia, Eynehan told Turkish media.
“Implementation of these projects will enable the countries to ensure higher volume of trade turnover and highest level of cooperation,” he said. “In this context, we will also increase the allocation of resources to the region.”
Increasing the trade turnover in the region is a priority for PASHA Bank and in this context, Azerbaijan, Georgia, Russia and Iran will be of particular importance in the coming period, according to Eynehan.
TANAP project envisages transportation of gas from Azerbaijan’s Shah Deniz field to the western borders of Turkey. The length of TANAP is 1,800 kilometers with the initial capacity of 16 billion cubic meters.
Around six billion cubic meters of this gas will be delivered to Turkey and the remaining volume will be supplied to Europe.
The gas will be delivered to Turkey in 2018, and after completion of the Trans-Adriatic Pipeline’s construction, the gas will be delivered to Europe in early 2020.
TANAP shareholders are Azerbaijan’s state oil company SOCAR (58 percent), BOTAS (30 percent) and BP (12 percent).
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