ECONOMY
TANAP to raise carrying capacity up to 30 bcm
Baku, January 25 (AZERTAC). The carrying capacity of the joint Azerbaijan-Turkish Trans Anatolian Gas Pipeline (TANAP), which envisaged a commitment from the countries to transport 16 -24 bcm of gas annually from the second development phase of
Azerbaijan’s Shah Deniz gas field to Europe through Turkey, will be enlarged up to 30 bcm, AZERTAC quots Turkey’s Aksham newspaper as reporting.
Last year Turkey and Azerbaijan signed a memorandum of understanding concerning the construction of the Trans Anatolian Gas Pipeline (TANAP) to export Azerigas to European markets through Turkey.
The memorandum was signed by Turkish energy minister Taner Yildiz and Azeri Industry and Energy minister Natig Aliyev and follows from the wide ranging inter-governmental gas transit agreement signed by the two countries on October 25.
New Azerbaijani-Turkish Trans-Anatolia Gas Pipeline (TANAP) is a game-changing project, which would connect the Caspian basin directly with Europe for the first time.
The pipeline effectively replaces the Nabucco project in Turkey, thanks to Azerbaijan’s capacity to finance the trans-Anatolia project, for possible link-up with an abridged Nabucco in Europe.
Shah Deniz shareholders are TPAO (Turkey), SOCAR (Azerbaijan), bp (UK), Statoil (Norway) and Lukoil (Russia). Nabucco consortium includes companies Botash (Turkey), OMV (Austria), RWE (Germany), MOL (Hungary), Transgaz (Romania) and BEH (Bulgaria).