TANAP’s cost may rise

TANAP’s cost may rise
# 11 January 2013 12:10 (UTC +04:00)

K.Yavuz told Zaman newspaper that irrespective of project’s cost, realization of TANAP is very important for Turkey, because thanks to this project Turkey will have a chance to purchase gas for more favorable price.

Construction of TANAP is considered to start within this year. Azerbaijan and Turkey signed relevant interstate agreements connected with the realization of TANAP project. The construction is expected to complete in 2017-2018. 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.

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