TANAP project extremely important for EU: Turkish president

The pipeline will transport gas from the Azerbaijani Shah Deniz field at the initial stage and later from other fields in Azerbaijan, Gül informed delegates at the conference.

TANAP project extremely important for EU: Turkish president

World Bulletin/News Desk

The Trans-Anatolian gas pipeline project (TANAP) to be implemented in the next few years is extremely important for the energy security of the European Union, Turkish President Abdullah Gül said speaking at the World Energy Forum in Istanbul.

The pipeline will transport gas from the Azerbaijani Shah Deniz field at the initial stage and later from other fields in Azerbaijan, Gül informed delegates at the conference.

"In addition, work is underway for the supply of Turkmen gas through this pipeline," Gül said.

SOCAR partners on the Shah Deniz gas field development project presented their preliminary intentions to acquire a stake in the TANAP project. According to the 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.

The TANAP project provides gas delivery from the Azerbaijani Shah Deniz gas field to Europe through Turkey. The initial capacity of the pipeline is expected to reach 16 billion cubic meters a year. About sex billion cubic meters will be delivered to Turkey and the rest to Europe.

Last Mod: 10 Mayıs 2013, 15:09
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