TODAY.AZ / Business

Turkey's TANAP share can be increased, says SOCAR

10 December 2013 [14:15] - TODAY.AZ
By AzerNews

Turkey's share in the Trans-Anatolian gas pipeline (TANAP) project can be increased in future, head of Azerbaijan's state energy company SOCAR Rovnag Abdullayev told journalists on December 10.

"Currently the issue is being discussed," he explained.

Turkey owns a 20-percent share in the project, while the rest of the shares belong to Azerbaijan.

Abdullayev said Ankara's share may be increased through the shares previously offered to Statoil and Total.

The TANAP project, jointly developed by Azerbaijan's SOCAR, Turkish state pipeline company Botas, and energy company TPAO, will deliver gas from Azerbaijan's giant Shah Deniz field to the Turkish-Greek border via eastern Turkey.

The initial capacity of the pipeline will be 16 billion cubic meters of gas a year. TANAP will connect to the Trans Adriatic Pipeline (TAP) on the Turkish-Greek border.

Azerbaijani state energy company SOCAR has started choosing a location for the construction of TANAP. The process is done in collaboration with the Turkish Botas Company specialists.

Abdullayev also noted that SOCAR plans to sign 39 documents in regards to the second phase of Shah Deniz gas condensate field's development plan on December 17.

He said the specialists of partner companies are concluding the process of preparing necessary documents.

Two offshore platforms will be installed and more than 20 underwater wells will be drilled in order to produce an additional 16 billion cubic meters of gas per year as part of the Shah Deniz-2 project.

According to forecasts, gas production can be brought up to 24 billion cubic meters per year as part of the second phase of the development project.

The gas condensate reserves of the Shah Deniz field are estimated at 1.2 trillion cubic meters.

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