Cost of TANAP gas pipeline specified
Baku, Azerbaijan, Nov. 6
By Rufiz Hafizoglu – Trend:
The cost of the Trans Anatolian Natural Gas Pipeline (TANAP) is $7.9 billion, the Turkish media quoted TANAP CEO Saltuk Duzyol as saying Nov. 6.
Duzyol said that TANAP’s construction has been completed by 93 percent.
“In general, $3.8 billion were saved during construction,” noted the CEO.
To date, loan agreements worth $3.65 billion have been signed as part of the pipeline’s construction, he noted.
Testing TANAP will start on the Turkish-Georgian border in early 2018, added Duzyol.
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).
Follow the author on Twitter: @rhafizoglu