New shareholder may join TANAP

Number of participants in the project on transportation of Azerbaijani gas to Europe - TANAP may increase, as well as the capacity of the pipeline, Azerbaijani Ambassador to Turkey Faig Bagirov said, the newspaper Haberdar reported on Monday.

"Other countries such as Ukraine can participate in the project. A final decision on the matter hasn't been taken yet. It all depends on the decision of Azerbaijan, Turkey and Shah Deniz consortium" Bagirov said.

He also noted that the intergovernmental agreement between Turkey and Azerbaijan on the implementation of the project TANAP will be signed in June this year.

Regarding the project Nabucco, the ambassador said it is still too early to say that Nabucco failed. The project can be realized under a different name and with the other concept, he said.

Azerbaijan and Turkey signed a memorandum of understanding to establish the consortium that will build the Trans Anadolu Pipeline (TANAP) to supply gas from Shah Deniz gas field to Europe through Turkey. BOTAS has a 20 per cent stake in TANAP, while the State Oil Company of Azerbaijan (SOCAR) holds 80 per cent in the project.

The initial capacity of the pipeline will be 16 billion cubic meters. Some 6 billion cubic meters of the volume will be supplied to Turkey, while the rest will be transported to Europe.

At present, Azerbaijan is choosing a route for gas exports to Europe via Turkey. Azerbaijan is exporting gas to Turkey via the South Caucasus gas pipeline.

At present, Azerbaijan must choose a route for gas exports to Europe via Turkey. Azerbaijan exports its gas to Turkey via the South Caucasus gas pipeline.


/Trend/