Date of starting discussions on TANAP between Turkey and EU announced

Date of starting discussions on TANAP between Turkey and EU announced
16:37 29 Sentyabr 2015
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Baku, Azerbaijan, Sept.29

By Rufiz Hafizoglu – Trend:

The European Commission is ready to support the construction of the Trans-Anatolian Pipeline (TANAP), Vice-President of the European Commission Maros Sefcovic said.

He added that Turkey and the European Union will start discussions on the TANAP project Oct.1, Anadolu agency reported Sept.29.

TANAP project envisages transportation of gas of Azerbaijan’s Shah Deniz field from Georgian-Turkish border to the western borders of Turkey. The project’s total cost is estimated at $10 billion.

The initial capacity of TANAP pipeline is expected to reach 16 billion cubic meters of gas per year. Around six billion cubic meters of this gas will be delivered to Turkey and the remaining volume will be supplied to Europe.

Turkey will get gas in 2018 and after completing the construction of Trans-Adriatic Pipeline (TAP), it will be delivered to Europe in early 2020.

BP became one of the shareholders of the pipeline in accordance with the agreement signed with the TANAP consortium in April.

Currently, the shareholders of TANAP are: the State Oil Company of Azerbaijan (SOCAR) – 58 percent, Botas – 30 percent and BP – 12 percent.

Edited by SI

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Follow the author on Twitter: @rhafizoglu

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