Azernews.Az

By Aynur Jafarova

Turkey is planning to put up part of its stakes in the Trans-Anatolian pipeline (TANAP) project for privatization.

This was announced by Turkish Energy and Natural Resources Ministry in an interview with Trend Agency on February 26. Turkey's share in the project is 20 percent.

"The issue of partial privatization of Turkey's share in TANAP has already been submitted to the Turkish Cabinet of Ministers," the ministry said. "The issue is expected to be clarified in the coming weeks."

However the ministry didn't say anything about the size the share up for privatization.

Earlier, Turkish Energy and Natural Resources Minister Taner Yildiz said Turkey intends to increase its stake in TANAP project up to 30 percent.

Jointly developed by Azerbaijan's state energy company SOCAR, Turkish state pipeline company Botas, and energy company TPAO, the TANAP project will deliver gas from Azerbaijan's giant Shah Deniz field to the Turkish-Greek border via eastern Turkey.

The initial capacity of the pipeline will be 16 billion cubic meters of gas a year and it will be connected to the Trans Adriatic Pipeline (TAP) on the Turkish-Greek border.

TANAP shareholders plan to lay the pipeline's foundation in the second quarter of 2014 and to make it operational it in 2018. TANAP project's cost is estimated at $10 billion to $11 billion.