Azernews.Az

Azerbaijani state energy company SOCAR plans to settle with Turkey by the end of October the organizational issues for the Trans Anatolian gas pipeline (TANAP), which will supply Azerbaijani gas to European markets across Turkish territory, a SOCAR official told Trend news agency.

"We are developing this project with our Turkish partners. The agreement of organisers and the charter of the future joint project are currently being discussed," the official said.

Earlier, SOCAR said it would welcome three more major companies' joining the project, namely BP, Statoil and Total.

"We consider that it's too early to discuss the details with these companies, as they could have interests different from ours in this project. The invitation of new companies to participation in the project is expected after settling the organisational issues with the Turkish side. I suppose we are going to settle the matter by the end of this month," the SOCAR representative said.

SOCAR President Rovnag Abdullayev has said the company intends to retain 51 per cent in the TANAP project, while Turkey will hold 20 per cent, and the remaining 29 per cent is to be distributed among new shareholders.

TANAP project envisages construction of a pipeline from the eastern border of Turkey to the country's western border to supply gas from Azerbaijani Shah Deniz gas field to Europe across Turkey. 80 percent in the project is held by SOCAR, while Turkish state pipeline company BOTAS has a 20 per cent share.

In June, Azerbaijan and Turkey signed an intergovernmental agreement on the TANAP project.

Initial capacity of the TANAP pipeline is expected to be 16 billion cubic meters per year. The link will carry 10 billion cubic meters of gas a year to the EU from the Shah Deniz deposit, while Turkey will buy 6 billion cubic meters.