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Azerbaijan and Turkey to sign an agreement on TANAP gas pipeline2012-06-26 11:17
Today, State Oil Company of Azerbaijan (SOCAR), the Turkish state pipeline company BOTAS and Turkish Petroleum Corporation (TPAO) are going to sign an official agreement on the TANAP gas pipeline project, the Trend reported. Investment in the project will amount to about $ 7 billion; it will be completed in six years.gt-en-newsitem-inside
The signing ceremony will be held at the office of Prime Minister of Turkey. It will be attended by the Minister of Industry and Energy of Azerbaijan Natik Aliyev and Turkish Energy Minister Taner Yildiz.
As recalled by the Rosbalt, December 2011, Azerbaijan and Turkey signed a memorandum of mutual understanding to establish a consortium that would engage in construction of a pipeline to deliver gas from the field "Shah Deniz" to Europe via Turkey. Currently, 20% of the shares of the TANAP belong to Turkish BOTAS; SOCAR owns 80% of the shares.
The initial capacity of the pipeline is expected to reach 16 billion cubic meters. meters per year. About 6 billion cubic meters will be delivered to Turkey, and the rest - to Europe.