Azernews.Az

By Gulgiz Dadashova

Azerbaijan will invest 17 billion lira in the economy of Turkey for the construction of the Trans-Anatolian gas pipeline project (TANAP) and implementation of other projects, Turkish Minister of Energy and Natural Resources Taner Yildiz said.

Yildiz went on to say that the TANAP gas pipeline project, which envisages transporting gas from Azerbaijani Shah Deniz field to Europe through Turkey, will be the energy corridor connecting the Caspian Sea with the Adriatic, Haber Ortak news portal reported.

The TANAP project envisages construction of a pipeline from the eastern border of Turkey to the country's western border to supply gas from the giant Shah Deniz gas condensate field in the Caspian Sea. Initial capacity of the pipeline is expected to be 16 billion cubic meters per year. Around 6 billion cubic meters will be delivered to Turkey, while the rest will be transported to European markets.

The initial capacity of the pipeline is expected to reach 16 billion cubic meters per year. About six billion cubic meters of gas will be supplied to Turkey, and the rest to Europe.

Currently, the work is underway to select the gas pipeline's final route. The partners will select a contractor for the gas pipeline's construction after September 2013.

Mutual investments between Azerbaijan and Turkey amount to more than $10 billion. The amount of Azerbaijan's investments to Turkey in the coming years is estimated at $21 billion.

According to the 2012 results, trade turnover between the two countries amounted to $2.12 billion.