ECONOMY


Ahmet Davutoglu:”TANAP” is important both for Turkey and Europe”

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Baku, April 27, AZERTAC

“The Trans-Anatolian Natural Gas Pipeline-(TANAP) Project is very important both for Turkey and Europe”, Turkey 's Prime Minister Ahmet Davutoglu told the Turkish media. He noted that, in addition to supplying gas to Europe, TANAP will also serve the development of the whole region.

TANAP will pump gas from the vast Azerbaijani Shah Deniz 2 field to the Turkish and European Union consumers.

TANAP project, which is due to be completed in 2018, will link the existing South Caucasus Pipeline, which connects Turkey to the Azerbaijani gas fields in the Caspian Sea, through Georgia.

The initial capacity will be 16 billion cubic meters per year which will be gradually increased to 24 billion cubic meters and then 31 billion cubic meters. 1850 kilometer long TANAP line will be connected to the Trans Adriatic Natural Gas Pipeline (TAP) and to deliver natural gas from the South Caucasus Pipeline (SCP) to Europe through Greece, Albania and Italy as of early 2020.

According to a partnership agreement, Azerbaijan's SOCAR and Turkey's Botas will hold 58 percent and 30 percent stakes respectively in the project, while energy giant BP will have a 12 percent share.

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