TANAP completed by almost 55 percent
By Nigar Abbasova
The construction work held within the implementation of the Trans-Anatolian Gas Pipeline project (TANAP), which is one of the major pipes forming the highly ambitious Southern Gas Corridor, is completed by almost 55 percent.
TANAP consortium head Saltuk Duzyol told reporters that some 19 underground passages have so far been built as part of the project. Moreover, the head of the consortium noted that the cost of TANAP project has decreased as a result of changes in the market.
“When designing the construction of Trans-Anatolian pipeline, its cost was estimated at $11.7 billion. Its cost dropped below $10 billion as a result of changes,” he added.
Duzyol further mentioned that the first volumes of gas via TANAP will be delivered to Turkey’s BOTAS company in June 2018 and to the Trans-Adriatic Pipeline (TAP) on the border with Greece in June 2019.
He pointed out that the implementation of TANAP project will make it possible to create some 10,000 jobs in Turkey.
The project is expected to get financing from the Asian Infrastructure Investment Bank (AIIB), the World Bank (WB), European Investment Bank (EIB), and European Bank for Reconstruction and Development (EBRD).
TANAP will bring natural gas produced from Azerbaijan's Shah Deniz-2 gas field, and other areas of the Caspian Sea, primarily to Turkey and further to Europe. The project will serve as a new alternative for energy supplies to Europe, which places emphasis on the issue of energy security, as energy dependence leaves the countries vulnerable to supply disruptions. The EU imports more than half of all the energy it consumes, while its import dependency is particularly high for crude oil (more than 90 percent) and natural gas (66 percent).
The length of TANAP is 1,800 kilometers with the initial capacity standing at 16 billion cubic meters. The shareholders of TANAP are SOCAR, which holds 58 percent, Turkish BOTAS – 30 percent, and BP – 12 percent.
---
Nigar Abbasova is AzerNews’ staff journalist, follow her on Twitter: @nigyar_abbasova
Follow us on Twitter @AzerNewsAz