SOCAR sees final investment decision for Tanap this month

A final investment decision on the planned Trans-Anatolia natural gas pipeline (Tanap) will be made by the end of this month, said Rovnaq Abdullayev, president of Azerbaijan’s state energy company Socar.

Speaking to reporters in Baku on April 12, Abdullayev said he will visit Turkey next week to meet Turkish Energy Minister Taner Yildiz to continue talks on the pipeline that will ship Azerbaijan's Shah Deniz gas to Europe via Turkey.

Socar holds 80 percent of the project while Turkey’s Botas and Turkiye Petrolleri AO have the remaining 20 percent.

Turkey is seeking to increase its share of Tanap to 30 percent, Abdullayev said, adding Socar will keep 58 percent of the pipeline and BP will get 12 percent.

Work on the 2,000-km link is continuing at a “record high speed”, Abdullayev said. Construction may start at the year-end.

Tanap, estimated to cost $7 billion to $11 billion, will carry 10 billion cubic meters of gas a year to Europe via Turkey. Its completion is planned in 2018.

ANN.Az