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27.06.2012 10:26

Azerbaijan, Turkey sign agreement on TANAP gas pipeline

Azerbaijan and Turkey have signed on Tuesday an intergovernmental agreement on implementation of Trans-Anatolian gas pipeline (TANAP) project, TRT Haber reported.

Document was signed by President of Azerbaijan ilham Aliyev and Turkish Prime minister Recep Tayyip Erdogan.

In December 2011, Azerbaijan and Turkey signed a memorandum of understanding to establish the consortium that will build a gas pipeline to supply gas from Shah Deniz gas field to Europe through Turkey. BOTAS has a 20 per cent stake in TANAP, while SOCAR holds 80 per cent in the project.

The initial capacity of the pipeline will be 16 billion cubic meters. Some 6 billion cubic meters of the volume will be supplied to Turkey, while the rest will be transported to Europe.

Trend, 26.06.2012

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