ECONOMY


‘More than $ 2.5 billion has been saved so far on TANAP project’

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Baku, May 4, AZERTAC

“Trans-Anatolian gas pipeline (TANAP) project's final investment fell to $ 9.2 billion so far through saving $2.5 billion,” Director General of TANAP Saltuk Duzyol said. He said that the global economic downturn and fall in oil and commodity prices provided significant spending advantages. Duzyol said the project benefited many Turkish contractors and pipe manufacturers.

“Some 80 percent of work under the project has been carried out by Turkish contractors and pipe manufacturers,” he added.

The 1,850 kilometre Trans-Anatolian Natural Gas Pipeline (TANAP) pipeline, which will transport gas from "Shah Deniz-2" field in Azerbaijan sector of the Caspian Sea to Europe, will run from the Turkish border with Georgia, beginning in the Turkish village of Turkgozu in the Posof district of Ardahan, will run through 21 provinces, until it ends at the Greek border in the İpsala district of Edirne. The pipeline is planned to be commissioned in 2018. It is planned to supply 6 billion cubic meters of gas to Turkey and 10 billion cubic meters — to Europe. By 2023, TANAP's capacity will rise to 23 bcm per year and then to 31 bcm by 2026. The project's total cost is estimated at $10 billion.

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