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Commissioner Oettinger welcomes ratification of TANAP gas pipeline agreement

18 January 2013 15:05 (UTC +04:00)

Baku. Victoria Dementieva - APA-Economics. EU Energy Commissioner Oettinger welcomes the ratification of TANAP gas pipeline agreement and the agreement completed today between the Shah Deniz 2 consortium and Nabucco consortium.

Commissioner Oettinger said: “I am pleased to see that a crucial step towards realization of the South Corridor has been taken: both Azerbaijan and Turkey have ratified the TANAP agreement, thus enabling a dedicated infrastructure for the transport of Azeri gas to the EU”.

TANAP (Trans-Anatolian gas pipeline) will take gas from Shah Deniz gas field 2 in Azerbaijan through Turkey to Europe. In 2018 the Shah Deniz 2 consortium will sell 16 bcm of gas to Turkey and Europe.

Remind that, construction of TANAP gas pipe will be started in 2013 and completed at the end of 2017 early in 2018. 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 – to Turkey.

Currently, SOCAR owns 80% and Turkey 20% share in the project. But Azerbaijan intends to present 29% of its share to BP, Statoil and Total companies.