SOCAR Turkey Enerji to acquire stake in TANAP
By Aynur Karimova
SOCAR Turkey Enerji plans to acquire a 7 percent stake in the Trans-Anatolian gas pipeline.
This remark was made by Kenan Yavuz, the head of SOCAR Turkey Enerji, in Istanbul on August 27.
SOCAR Turkey Enerji can purchase the planned 7 percent from SOCAR, which currently owns a 58 percent stake.
TANAP envisages the transportation of gas of Azerbaijan’s Shah Deniz field from the Georgian-Turkish border to the western borders of Turkey. TANAP’s initial capacity is expected to reach 16 billion cubic meters of gas per year. Around six billion cubic meters of this gas will be delivered to Turkey and the rest of the volume to Europe.
Turkey will receive gas in 2018, and after the Trans-Adriatic Pipeline (TAP) is constructed the gas will be delivered to Europe in early 2020.
BP and the TANAP consortium signed March 13 a shareholder agreement, according to which, BP will become one of the shareholders of TANAP. The agreement is one of the main documents for BP’s ownership of a stake in the TANAP project.
Following the completion of a legal implementation procedure, TANAP’s shareholders list will be as follows: SOCAR – 58 percent, Botas – 30 percent and BP – 12 percent.
The heads of Azerbaijan, Turkey and Georgia have laid the foundation of the TANAP pipeline in the Turkish Kars province on March 17, 2015.
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Aynur Karimova is AzerNews’ staff journalist, follow her on Twitter: @Aynur_Karimova
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