BSTDB to help SOCAR get TANAP share
Black Sea Trade and Development Bank (BSTDB) is considering providing support for SOCAR Turkey Enerji on issue to purchase a share of seven percent in the Trans-Anatolian Gas Pipeline.
The Bank reported that it is considering the possibility of
restructuring of the company’s existing debt. The decision of the
Board of Directors is expected to be made in a month.
SOCAR Turkey Enerji can purchase the planned seven percent from
SOCAR, which owns the share of 58 percent in TANAP. The entire
TANAP project is estimated at $10 billion.
TANAP project envisages transportation of gas of Azerbaijan’s Shah
Deniz field from Georgian-Turkish border to the western borders of
Turkey.
The initial capacity of TANAP pipeline 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 remaining
volume will be supplied to Europe.
Currently, the shareholders of TANAP are: the State Oil Company of
Azerbaijan (SOCAR) – 58 percent, Botas – 30 percent and BP – 12
percent.
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