TODAY.AZ / Business

TANAP ready to welcome Central Asian gas

18 February 2014 [09:00] - TODAY.AZ
By AzerNews

The Trans-Anatolian pipeline (TANAP) project is open for Central Asian gas, the Caspian Strategic Institute (HASEN) quoted Deputy Head of SOCAR Turkey as saying on February 15.

Speaking at a conference held at HASEN, Samir Kerimli said the TANAP project will be financed from own sources, and investments in the amount of $12 billion are needed for the implementation of the project.

He also noted that TANAP will be one of the biggest projects in the world from a technological point of view.

"The first supply of gas via TANAP will be conducted in 2018," Kerimli said, adding that Turkey will become one of the three large gas markets in Europe.

Jointly developed by Azerbaijan's state energy company SOCAR, Turkish state pipeline company Botas, and energy company TPAO, the TANAP project 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, and it will be connected to the Trans Adriatic Pipeline (TAP) on the Turkish-Greek border.

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

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