ECONOMY


Tekfen wins $457m contract from TANAP project

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Baku, February 17, AZERTAC

Tekfen Construction has won a supply and construction contract worth $457 million from the Trans-Anatolian Natural Gas Pipeline Project (TANAP) project, it said in a written statement, according to Hurriyet Daily News .

The company will complete the project in 39 months.

A total of 11 companies won the right to bid in the tender, which was opened on June 26, 2015, according to a statement from TANAP.

“All engineering, procurement and construction work of two compressor and four measuring stations over the 1,850-km-long pipeline within the borders of Turkey will be made by Tekfen Construction,” said the statement.

The project consortium defined a joint venture composed of India’s Punj Lloyd and Turkey’s Limak Holding to build a 459-kilometer section of the pipeline from the Central Anatolian province of Eskişehir to the border with Greece in January.

The initial capacity of TANAP is expected to be 16 billion cubic meters (bcm) of gas from Azerbaijan’s Shah Deniz II field in the Caspian Sea, one of the world’s largest gas fields developed by a BP-led consortium, annually and will be gradually increased to 31 bcm. Around 6 bcm of gas will be delivered to Turkey, while the remainder will be supplied to Europe.

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