Turkish minister: TANAP project to speed Nabucco implementation
The Trans-Anatolian gas pipeline project (TANAP) will accelerate implementation of the Nabucco project, Turkish Energy Minister Taner Yildiz said in an interview with the Hazar World magazine, Trend news agency reported.
He said that Turkey continues to support the Nabucco project which, together with the TANAP project, aims at diversifying gas supplies to Europe and opening up new markets for Caspian gas.
Yildiz said the TANAP project will act as a bridge linking energy sources in the east with a growing consumer market in the west.
Yildiz also said that Turkey is ready to act as a gas supply corridor from Iraq to Europe. Furthermore, Turkey continues to work on the implementation of the Egyptian gas supply project to European markets through Jordan via the Pan-Arab gas pipeline.
Nabucco West, a short-cut version of the Nabucco project, envisages the construction of a 1,300 km pipeline (Bulgaria: 412 km, Romania 469 km, Hungary 384 km, Austria 47 km) from the Turkish-Bulgarian border to the Austrian Baumgarten. The gas to be produced within the second phase of development of Azerbaijani gas condensate Shah Deniz field is considered as the main source for the project.
The shareholders of Nabucco are Austrian OMV, Hungarian FGSZ, Bulgarian Bulgargaz, Romanian Transgaz, Turkish Botas and German RWE.
The TANAP project envisages a supply of gas from the Shah Deniz field to Europe through Turkey. The initial capacity of the pipeline is expected to reach 16 billion cubic meters a year. About six billion cubic meters will be delivered to Turkey and the rest to Europe.
At present, a 20% share in TANAP belongs to Turkish Botas and TPAO, 80 per cent - the State Oil Company of Azerbaijan (SOCAR).
SOCAR partners on the Shah Deniz development project previously expressed an interest in participating in the TANAP project. According to preliminary data, the partners intend to distribute a 29 per cent share in TANAP as follows: Statoil and BP are to receive 12 per cent each and Total would get five per cent.
SOCAR intends to retain 51 per cent of the equity in the project. Turkey will keep 20 per cent of the equity.