Prime Minister: Turkey and Azerbaijan hold strategic position in Europe's energy security

Prime Minister: Turkey and Azerbaijan hold strategic position in Europe's energy security

Azerbaijan, Baku, Dec. 29 / Trend A.Tagiyeva /

Having decided on the TANAP pipeline project, Turkey and Azerbaijan have taken a strategic position in Europe's energy security, Prime Minister Recep Tayyip Erdogan said on Saturday, TRT Haber reported.

"By signing the document on implementation of TANAP, Azerbaijan and Turkey to turned into a major player in the world energy market," Erdogan said.

At the moment the project Nabucco shareholders are the Austrian OMV, Hungarian FGSZ, Bulgarian Bulgargaz, Romanian Transgaz, Turkish Botas and German RWE.

SOCAR partners on a project to develop "Shah Deniz" presented its preliminary intentions to acquire a stake in the project TANAP. According to preliminary data, the partners plan to distribute 29 per cent participation in TANAP follows: Statoil and BP - to 12 percent, Total - five percent.

Nabucco's current shareholders are Bulgarian Bulgargaz, Romanian Transgaz, Turkish Botas, Austrian OMV, German RWE and Hungary's FGSZ.

SOCAR partners on the Shah Deniz development project previously expressed an interest in participating in the TANAP project.

According to preliminary data, the partners intend to distribute a 29 per cent share in TANAP as follows: Statoil and BP are to receive 12 per cent each and Total would get five per cent.
SOCAR intends to retain 51 per cent of the equity in the project. Turkey will keep 20 per cent of the equity.

Currently, 20-percent share in TANAP is owned byTurkish BOTAS and TPAO, SOCAR owns 80 per cent share.TANAP project envisages a supply of gas from the Azerbaijani Shah Deniz gas field to Europe through Turkey. The initial capacity of the pipeline is expected to reach 16 billion cubic meters a year. About six billion cubic meters will be delivered to Turkey and the rest to Europe.

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