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Iran not to participate in TANAP project

03 August 2012 13:17 (UTC +04:00)

â€œNicoâ€™s participation in the Trans-Anatolia pipeline or other pipelines is not being considered,â€ Vaqif Aliyev, head of State Oil Co. of Azerbaijanâ€™s investments department, said by e- mail, referring to Naftiran, which is a unit of National Iranian Oil Co. â€œIt has not been invited to join.â€
Nico holds 10 percent of Shah Deniz, which is estimated to contain 1.2 trillion cubic meters of gas, enough to supply demand in the European Union for about 2 1/2 years. Norwayâ€™s Statoil ASA (STL), Franceâ€™s Total SA (FP), Turkiye Petrolleri AO and Moscow-based OAO Lukoil are Shah Deniz partners with BP and Socar, as the Azeri company is known.
â€œLetâ€™s see if it is even possible for Nico to stay in the Shah Deniz consortium,â€ said Philipp Chladek, an energy analyst at Bloomberg Industries. It is unlikely any company from Iran will be able to participate in international projects given current tensions, he said.
The U.S. and EU are applying sanctions against Iran in an attempt to force the Persian Gulf to curb its nuclear program.