BP to buy 12% of Tanap pipeline this year: SOCAR

BP will complete talks with Azerbaijan’s state energy company SOCAR by the year-end to buy 12 percent of the Trans-Anatolia (Tanap) natural gas pipeline, said Vagif Aliyev, head of SOCAR’s investments department. 

Speaking to reporters in the Azeri capital Baku, Aliyev did not say how much the deal will cost.

Tanap partners will also include Turkey’s state pipeline company Botas, which will get 30 percent of Tanap.

The 2,000-km pipeline is designed to deliver Azeri gas to Europe across Turkey. Construction is planned to start in April 2015 and end in June 2018, Aliyev said.

The project is estimated to cost $11.3 billion, he said.

Bakudaily.Az