Socar sees TANAP agreements signed in March-April
Azeri state energy company Socar wants to sign the inter-governmental and host country agreements regarding the Trans Anatolian Gas Pipeline (TANAP) project in March or April, the company chairman said, Reuters reported.
Rovnag Abdullayev, chairman of SOCAR, also said they wanted to see companies active in Azerbaijan in the project and said European firms were interested in taking part in TANAP.
The project, seen costing $5-7 billion, will pipe gas from Azerbaijan's Shah Deniz II field. It is planned to have an initial capacity of 30,000 billion cubic metres (bcm), according to officials, but it could be expanded to 60 bcm later.
Abdullayev also expressed confidence that there will be no problems with financing of the project.
"Oil Fund of Azerbaijan has resources exceeding $30 billion. In case of need it will be possible to use these reserves," he said.
This gas pipeline will become a base of the Southern Gas Corridor which includes Nabucco, TAP and ITGI gas pipelines. Decision on the preferable route of transportation is expected to be made before the end of the first quarter of 2012.
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