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
- 22.11.2017SOCAR clarifies gas import from Gazprom
- 22.11.2017Azerbaijan resumes gas import from Russia
- 21.11.2017TAP realization bases on Europe’s fundamental values - Snam
- 20.11.2017SOCAR reduces oil output by 2% in January-October
- 20.11.2017Minister: 94 percent of works on TANAP completed
- 20.11.2017Number of BP’s Azerbaijani national employees declining
- 20.11.2017BP: 98 percent of construction on SCP Expansion is completed
- 20.11.2017South Caucasus Pipeline spends $657M this year
- 20.11.2017BTC spends $120M this year
- 20.11.2017BP: 27 million standard cubic metres of Shah Deniz gas was exported from Sangachal Terminal daily
- 20.11.2017Shah Deniz spends more than $2.6 billion this year
- 20.11.2017Shahdeniz 2 is now over 97 percent complete: BP
- 20.11.2017Volume of AGC production announced
- 17.11.2017Price of gasoline AI-95 and AI-98 increased in Azerbaijan
- 16.11.2017Volume of oil and gas transported via main pipelines announced
- 16.11.2017Azerbaijan exports 38% of its gas reserves
- 16.11.2017Azerbaijan reduces diesel production by 21%
- 16.11.2017SOCAR President: Works on SGC carried out on schedule
- 16.11.2017SOCAR: Petkim quintuples revenues
- 16.11.2017Transneft halts oil transportation from Azerbaijan due to earthquake
- 15.11.2017Three high-ranking officials of Energy Ministry dismissed
- 15.11.2017Ministry: Baku and Ankara implemented a project that Europe could not carry out for years
- 14.11.2017Turkish Minister of Energy and Natural Resources to visit Azerbaijan
- 14.11.2017Azerbaijan increases revenues from gas export
- 14.11.2017Azerbaijan sees 27% growth in revenues from crude oil export
- 14.11.2017SOCAR Petroleum: Current break in sale of AI-98 gasoline to last for a month
- 13.11.2017OPEC member states decrease oil production
- 13.11.2017Working Group on improvement and finalization of 2016 EIT report holds meeting
- 13.11.2017SOCAR might buy oil refinery in Italy
- 13.11.2017Azerbaijan sees 7.2% decline in oil output
- 13.11.2017Azpetrol General Director reveals forecasts on gasoline price
- 13.11.2017Azpetrol comments on quality of fuel
- 13.11.2017General Director: Azpetrol already plans to install facilities designed for charging electric vehicles
- 13.11.2017BTC transported more than 344 million tonnes of oil so far
- 13.11.2017Volume of Azerbaijani oil transported through Ceyhan port announced
- 10.11.2017Azerbaijani president: Extension of ACG will bring tens of billions of dollars in additional investment
- 10.11.2017President Ilham Aliyev attends opening of “Yeni Ganja” substation
- 10.11.2017Petkim pays $11M advance for construction of new administrative building
- 10.11.2017SOCAR transfers AZN 1.3B to state budget
- 10.11.2017Petkim announces investment incomes
- 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