Azernews.Az

By Aynur Karimova

The Trans-Anatolian Gas Pipeline project is one of the important projects for Turkey, Turkish President Recep Tayyip Erdogan said.

He made this remark during his visit to Kars province, local Turkish media reported on June 2.

Erdogan also noted the TANAP project is also important for the entire region.

The TANAP project, the foundation of which was laid by the presidents of Azerbaijan and Turkey in Kars on March 17, envisages the transportation of gas of Azerbaijan’s Shah Deniz field from the Georgian-Turkish border to the western borders of Turkey. TANAP’s initial capacity is expected to reach 16 billion cubic meters of gas per year.

Around six billion cubic meters of this gas will be delivered to Turkey and the rest of the volume to Europe. Turkey will obtain gas in 2018. The gas will be supplied to Europe in early 2020 after the Trans Adriatic Pipeline (TAP) is constructed.

BP and the TANAP consortium signed a shareholder agreement on March 13, according to which BP will become one of the shareholders of TANAP. The agreement is one of the main documents for BP’s ownership of a stake in the TANAP project.

Following the completion of a legal implementation procedure, TANAP’s shareholders list will be as follows: SOCAR – 58 percent, Botas – 30 percent and BP – 12 percent.

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Aynur Karimova is AzerNews’ staff journalist, follow her on Twitter: @Aynur_Karimova

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