Turkish president ratifies TANAP agreement
Turkish president Abdullah Gul has ratified an intergovernmental agreement on the realisation of Trans Anatolian gas pipeline (TANAP) project, Turkey's Resmi Gazeti newspaper reported on Wednesday.
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.
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