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Turkish President approves Initial Agreement signed with Azerbaijan on construction of TANAP pipeline

10 October 2012 11:14 (UTC +04:00)

Baku. Rashad Suleymanov â€“ APA. Turkish President Abdulla Gul has approved the Initial Agreement signed between Turkey and Azerbaijan on the sale of Azerbaijani gas to Turkey, its export via that country and the construction of relevant pipeline (Trans-Anatolian gas pipeline project (TANAP)), APA reports quoting the â€œResmi Gazeteâ€.
The agreement, signed in Izmir, Turkey, 25 October last year, covers the sale of natural gas and transit transportation of Azerbaijani gas through Turkey and the construction of the pipeline for that purpose.
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.