ECONOMY
Turkish FM: TANAP took Azerbaijani-Turkish cooperation to a qualitatively new level
Baku, October 16 (AZERTAC). “Official Ankara hopes for successful construction of the Transanatolian (TANAP) gas pipeline. This project has led the energy cooperation between Turkey and Azerbaijan to a qualitatively new level,” Turkish Foreign Minister Ahmet Davutoglu, who attended the 12th summit of Economic Cooperation Organization in Baku, told journalists.
The Minister noted that the new Azerbaijani-Turkish project will give a significant economic benefit to both countries.
Earlier it was said that the project implementation is planned for 2016-2017. Construction work on TANAP is to start next year.
The agreement on the project was signed in Istanbul on 26 June 2012. TANAP will carry approximately 16 billion cubic meters (bcm) of gas, of which 6 bcm will reach Turkey`s domestic market, while the rest will be destined for Europe. TANAP will be 80 percent owned by Azeri state firm Socar and 20 percent by Turkey`s Botas.
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