Energy minister: Azerbaijan is Turkey’s strategic economic partner
Azerbaijan is Turkey's strategic partner in the field of economy, Turkish Energy Minister Taner Yildiz has said.
According to Haberturk newspaper, Yildiz said that the trade turnover between the two countries is $3.5 billion, but it is planned to increase the figure to $5 billion.
The minister added that the two countries have many joint economic projects, with one of them being the Trans-Anatolian gas pipeline (TANAP) project, the largest in the region.
TANAP is a proposed Azerbaijani-Turkish project that envisages construction of a pipeline from the eastern border of Turkey to the country's western border.
SOCAR holds 80 per cent in the TANAP project, while Turkish stated-owned BOTAS company has a 20 per cent stake.
Initial capacity of the pipeline is expected to be 16 billion cubic meters per year. The link may carry 10 billion cubic meters of gas a year to the EU from Shah Deniz, the biggest Azerbaijani gas deposit, while Turkey will buy 6 billion cubic meters.
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