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More companies show interest in TANAP

5 May 2014 15:57 (UTC+04:00)
More companies show interest in TANAP

By Aynur Jafarova

A number of foreign companies show huge interest in acquiring a share in the Trans-Anatolian (TANAP) gas pipeline project.

This was announced by Turkish Energy and Natural Resources Minister Taner Yildiz, Turkish media reported on May 5.

TANAP project, being one of the most important economic projects of Turkey, will contribute to the development of the country's regions, the minister noted.

"The project is very important and many foreign companies show great interest in it," Yildiz added.

TANAP, developed by Azerbaijan's state energy company SOCAR in collaboration with Turkish Botas and the energy company TPAO, will deliver Shah Deniz gas to the Turkish-Greek border from eastern Turkey.

The initial capacity of the pipeline will be 16 billion cubic meters of gas a year. TANAP will link up with Trans-Adriatic (TAP) pipeline on the Turkish-Greek border.

TANAP shareholders plan to lay the pipeline's foundation in the second quarter of 2014, and commission it in 2018. The costs of the TANAP project are estimated at $10 billion to $11 billion.

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