Commissioner Oettinger welcomes Azerbaijan`s ratification of TANAP project agreements
Baku, November 23 (AZERTAC). The European Union`s (EU) Energy Commissioner Gunther Oettinger welcomes the Azerbaijan parliament`s ratification of the Trans-Anatolian gas pipeline (TANAP) agreements.
Oettinger noted that this decision shows Azerbaijan`s concrete determination in exporting its gas to Europe. “It means that natural gas will be transported to Europe and then it will be freely distributed within the EU,” he added. The EU commissioner also welcomed Azerbaijan`s, especially SOCAR`s entering the EU energy market.
This week the Azerbaijani Parliament ratified an agreement on the construction of a separate gas pipeline to transport gas to Turkey through its territory, as well as an agreement on TANAP between the governments of Azerbaijan and Turkey.
TANAP project envisages construction of the pipeline from the eastern border of Turkey to the country`s western border to supply gas from 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 six billion cubic meters will be delivered to Turkey, and the rest to Europe.
On June, 26 Azerbaijan and Turkey signed an intergovernmental agreement on TANAP implementation.
At present, a 20 per cent share in TANAP belongs to Turkish BOTAS, 80 per cent and the State Oil Company of Azerbaijan (SOCAR). Earlier SOCAR partners on the project of developing Shah Deniz field have voiced their preliminary intentions to acquire a stake in TANAP project. According to the preliminary data, the partners intend to distribute a 29 per cent share in TANAP as follows: Statoil and BP - 12 per cent, Total - five per cent.
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