TANAP to be launched in 2018
The Trans-Anatolia Pipeline (TANAP) to transport Azerbaijani gas to Europe through Turkey will be launched in mid-2018, said Khoshbakht Yusifzadeh, vice president of the State Oil Company of the Azerbaijan Republic (SOCAR) for geology, geophysics and field developments, Trend reports.
The pipeline will have a capacity of 16 billion cubic meters of gas a year (6 billion for Turkey and 10 billion for Europe). The capacity may be extended to 31 billion cubic meters in 2026.
TANAP shareholders want to start constructing the pipeline in Q2 2014 and launch it in 2018. The project is worth $10-11 billion. Partners developing the Shah Deniz Field (1.2 trillion cubic meters of gas reserves) of Azerbaijan are SOCAR (16.7%), BP (UK, 28.8%), Statoil (Norway, 15.5%), NICO (Iran, 10%), LUKOIL (Russia, 10%), TPAO (Turkey, 19%). Total bought the share of TPAO in Turkey on May 30.
After concluding deals with BP and Botas, the SOCAR share in the project will reach 58%. BP and Botas will have shares of 12% and 30% respectively.