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GÃ¼nther Oettinger welcomes signature of agreement between Azerbaijan and Turkey on TANAP project

29 June 2012 08:58 (UTC +04:00)

â€˜Europe is now a step closer to its aim to get gas directly from Azerbaijan and the other countries in the Caspian regionâ€™, said Oettinger.

Note that, Azerbaijan and Turkey signed the agreement on TANAP project on June 26. Realization of TransAnadolu pipeline project will cost $7 bn. The diameter of the pipeline has been considered at 56 inches or 1.4 meters. That is, the project will be implemented in 4 stages. The first stage will be completed in 2018. Its capacity of the pipeline will be hit 16 bn cbm in 2020; 23 bn cbm in 2020; 31 bn cbm in 2026. during the first period, 10 bn cbm of Azeri gas will be sold to Europe, 6 bn cbm â€“ to Turkey. The gas, considered for Europe, will be handed over on Turkish-Bulgarian or Turkish-Greek border.