TODAY.AZ / Business

TANAP implementing on schedule - SOCAR

12 April 2014 [09:00] - TODAY.AZ
There is no any delay in the implementation of the construction of the Trans-Anatolian gas pipeline (TANAP), designed to ensure the transportation of Azerbaijani gas on the territory of Turkey, the press-service of the Azerbaijan's State Oil Company of Azerbaijan reports.

All the works within the framework of this major project are carried out in accordance with the prescribed schedule, the head of the press service Nizamaddin Guliyev told Trend on April 11.

"In some cases there is even ahead of schedule of the planned works," he said.

The initial capacity of the pipeline is expected to be 16 billion cubic meters per year. About six billion cubic meters of gas will be delivered to Turkey and the rest to Europe. In the future, the pipeline's capacity can be expanded to 31 billion cubic meters of gas per year.

At present, the share distribution in the TANAP project is conducted as follows: Turkey (20 percent) and Azerbaijan (80 percent). Following the completion of the process on acquiring a stake in the TANAP project by British company BP, the shares in the project will be distributed as follows: SOCAR (operator) - 68 percent , Botas (Turkish state pipeline company) - 20 percent and BP - 12 perce

TANAP project's cost is estimated at $10 billion to $11 billion.



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