TANAP to fund number of projects in Turkish provinces

Oil&Gas Materials 9 August 2017 11:35 (UTC +04:00)

Baku, Azerbaijan, Aug. 9

By Rufiz Hafizoglu – Trend:

TANAP consortium will finance implementation of a project, which envisages the supply of drinking water to 91 villages in the Turkish province of Konya, the consortium told Trend.

Agreement was signed between Saltuk Duzyol, TANAP director general, and Ihsan Bostanci, head of regional department on the development of the province, in order to supply drinking water to the villages of Konya province.

“The cost of the project is 15.4 million Turkish liras,” the consortium said.

It was earlier reported that the TANAP consortium will allocate 7.6 million Turkish liras for the implementation of social projects in the Turkish province of Ardahan.

These funds will be allocated within the framework of the agreement reached between the TANAP consortium and the administrative department of the Ardahan province on Aug. 4 of this year.

The funds will be directed to the restoration of roads in a number of villages and construction of a kindergarten in the Turkish province.

TANAP project envisages transportation of gas from Azerbaijan's Shah Deniz field to the western borders of Turkey. The gas will be delivered to Turkey in 2018 and after completion of the Trans Adriatic Pipeline's construction natural gas will be delivered to Europe in early 2020.

The length of TANAP is 1,850 kilometers, with an initial capacity of 16 billion cubic meters of gas. Around six billion cubic meters of this gas is meant to be delivered to Turkey, with the remaining volume to be supplied to Europe.

TAP’s shareholding is comprised of BP (20 percent), SOCAR (20 percent), Snam S.p.A. (20 percent), Fluxys (19 percent), Enagás (16 percent) and Axpo (5 percent).

The official exchange rate announced by the Central Bank of Turkey on Aug. 9 is 3.5358 TRY/USD.


Follow the author on Twitter: @rhafizoglu