Israel to join TANAP
The decision was made after four stage negotiations.
According to the decision, a pipeline will be constructed from Leviathan gas field to Turkish coasts, then to TANAP.
The minister also noted that Israel is also planning to construct the second gas pipeline to Italy through Cyprus and Greece. Steinitz says Israel is capable of supplying gas to the both pipelines.
The Southern Gas Corridor is one of the priority energy projects for the EU. It envisages the transportation of gas from the Caspian region to the European countries through Georgia and Turkey. The gas to be produced as part of the Stage 2 of development of Azerbaijan’s Shah Deniz field is considered as the main source for the Southern Gas Corridor projects. As part of the Stage 2 of the Shah Deniz development, the gas will be exported to Turkey and European markets by expanding the South Caucasus Pipeline and the construction of Trans Anatolian Natural Gas Pipeline and Trans Adriatic Pipeline.
First gas transportation to neighbour country within TANAP will start in 2018. The planned capacity of the pipeline would be 16 billion cubic metres of natural gas per year at initial stage and would be increased later up to 23 billion cubic metres by 2023, 31 billion cubic metres by 2026.
1,802 km-TANAP will be linked to TAP from 2020 and deliver natural gas that will receive via South Caucasus Pipeline to Europe through Greece, Albania and Italy.
The pipeline is expected to cost US$9.2 billion. Azerbaijan will spend $6.1 billion.
TANAP shareholders: SOCAR - 58%, Botas – 30% and BP – 12%.
TAP will transport natural gas from the giant Shah Deniz II field in Azerbaijan to Europe. The approximately 878 km long pipeline will connect with the Trans Anatolian Pipeline (TANAP) at the Turkish-Greek border at Kipoi, cross Greece and Albania and the Adriatic Sea, before coming ashore in Southern Italy.
TAP’s shareholding is comprised of BP (20%), Southern Gas Corridor (20%), Snam (20%), Fluxys (19%), Enagás (16%) and Axpo (5%).
The Leviathan gas field is a large natural gas field located in the Mediterranean Sea off the coast of Israel. The gas field, located roughly 130 kilometres west of Haifa in waters, was discovered in 2010. The potential reserve size is being estimated at 500-600 bcm.
Related news releases
- 16.01.2018Anglo Asian Mining earns $55M from sale of gold
- 16.01.2018SOCAR sees nearly 3% decline in gas production in 2017
- 16.01.2018SOCAR reduces oil output about 6% last year
- 15.01.2018Georgia imports nearly 200,000 tonnes of oil products from Azerbaijan last year
- 15.01.2018Azerbaijan sees decline in revenues from export of oil products
- 15.01.2018Azerbaijan increases revenues from gas export by 23 percent
- 15.01.2018Azerbaijan sees 30% growth in revenues from crude oil export
- 15.01.2018Azerbaijan increases revenues from energy export
- 12.01.2018Companies to place Petkim’s AZN 500 mln bonds abroad named
- 12.01.2018Fitch: Petkim to save USD70 million annually on STAR’s descent
- 11.01.2018Date set for 4th Southern Gas Corridor Advisory Council meeting in Baku
- 10.01.2018Basic metals production for TAP increased
- 10.01.2018Brent oil price above $69/bbl first since May 6, 2015
- 09.01.2018Azerbaijan fulfils its obligation on output cut
- 09.01.2018TAP: Talks with EIB on funding for TAP are ongoing
- 08.01.2018Azerbaijan meets nearly 30% of Georgia’s demand for fuel
- 04.01.2018Gazprom increases gas production by 12.4%
- 04.01.2018OPEC holds production steady
- 04.01.2018Azerbaijan announces volume of oil and gas reserves
- 27.12.2017Azerbaijan reduces gas export to Turkey
- 25.12.2017Excise on gasoline imported to Azerbaijan with octane number up to 95 increased 200 times
- 23.12.2017SOCAR: Azerbaijan has large gas reserves to supply pipelines
- 22.12.2017Energy Regulatory Agency established in Azerbaijan
- 22.12.2017President issues order on additional measures on use of alternative and renewable energy sources
- 22.12.2017$11.5B directed to SGC so far
- 22.12.2017ADB arranges $524.5 million syndicated loan for SGC
- 20.12.2017SOCAR sees 3% decline in gas production
- 20.12.2017SOCAR reduces oil output by 2% this year
- 20.12.2017Turkey intends to increase import of oil and gas from Azerbaijan and Iran
- 19.12.2017TAP construction to be temporarily suspended
- 19.12.2017SOCAR buys two companies in Austria
- 19.12.2017Ambassador: Azerbaijan is a strategic energy supplier
- 19.12.2017Azerbaijan plays great role in energy security of Czech Republic - embassy
- 18.12.2017Georgian PM: Azerbaijan supplies natural gas to Georgia without problem
- 18.12.2017ADIF pays nearly AZN 748M in compensation to eleven closed banks’ customers
- 15.12.2017Head of state: Creation of industrial prevailing in Azerbaijan
- 15.12.2017President Ilham Aliyev attends opening of pipe-rolling plant in Sumgayit
- 14.12.2017SOCAR exploring Lukoil's oil refinery complex in Italy
- 14.12.2017Main pipelines transport 20 bcm of gas this year
- 14.12.2017Volume of oil transported via main pipelines announced
- 17.07.2017Azerbaijan investing billions of dollars for realization of SGC soon – president
- 17.07.2017Azerbaijan sees 3.2-fold increase in gold production
- 17.07.2017Azerbaijan sees 8% rise in gasoline production
- 15.07.2017S&P: SOCAR plays critical role in Azerbaijan’s economy
- 15.07.2017SOCAR to attend tender for construction of underground gas storage facility in Georgia
- 15.07.2017Price of gasoline Aİ-92 increased in Azerbaijan - OFFICIAL