ECONOMY


TANAP delivers 3.5 bcm of Shah Deniz gas to Turkey

Baku, December 12, AZERTAC

So far, 3.5 billion cubic meters of Azerbaijani gas from the Shah Deniz field has been delivered to Turkey via the TANAP, said First Vice-president of SOCAR, academician Khoshbakht Yusifzade.

TANAP is the most important link of the Southern Gas Corridor, designed to transport natural gas produced from Azerbaijan’s Shah Deniz-2 field initially to Turkey and onwards to Europe.

The actual costs of the project amounted to $6.5 billion against the initial estimate of $11.77 billion. Thus, it was possible to save 45 percent.

The share distribution of TANAP shareholders is as follows: Southern Gas Corridor CJSC - 51 percent, SOCAR Turkey Enerji - 7 percent, BOTAS - 30 percent, BP - 12 percent. TANAP will bring pipeline shareholders a total of $1.45 billion in annual revenues, of which 58 percent will account for Azerbaijan.

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