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Azerbaijan and Turkey are going to sign an agreement on TANAP2012-06-21 19:13
Next week, Azerbaijan and Turkey will sign an intergovernmental agreement on TANAP gas pipeline. This was reported by the APA-Economics.gt-en-newsitem-inside
"The work has entered its final stage. The intergovernmental agreement will be signed in Istanbul next week", a source in Ankara said.
Another source added that the signing ceremony would be held on June 26 with the participation of Azerbaijani President Ilham Aliyev and Turkish Prime Minister Recep Tayyip Erdogan.
Trans-Anatolian Pipeline (TANAP), to be built by the State Oil Company of Azerbaijan (SOCAR), BOTAS and TPAO, will become a direct competitor to South Stream of the Gazprom. TANAP will have a capacity of 60 billion cubic meters of gas per year with the possibility of increasing it, the IA Regnum reported.
At the initial stage the pipeline is designed to supply 6 billion cubic meters of gas from the Shah Deniz field in Azerbaijani sector of Caspian Sea to western Turkey and 10 billion cubic meters of gas to Europe (to the Turkish-Bulgarian border). The cost of the pipeline is estimated at $ 5 billion.