Head of SOCAR Turkey Enerji: TANAP project is Silk Road of energy sector
Azerbaijan, Baku, April 16 / Trend, R. Hafizoglu /
The Trans-Anatolian gas pipeline project (TANAP) is the "Silk Road" of the energy sector, the head of SOCAR Turkey Enerji, a board member of Petkim Petrochemical Holding Kenan Yavuz told Cihan agency on Tuesday.
According to Yavuz, Trans-Anatolian gas pipeline project (TANAP) is a revolution in the energy history of Azerbaijan and Turkey.
It is expected that the first construction works within TANAP project will start in 2014, and the first delivery of Azerbaijani gas to Turkey will begin already in 2017.
Presently, a 20-percent share in TANAP belongs to Turkish BOTAS and TPAO, while 80 percent is owned by the State Oil Company of Azerbaijan (SOCAR).
SOCAR partners on the Shah Deniz gas field development project presented their preliminary intentions to acquire a stake in the TANAP project. According to preliminary data, the partners intend to distribute a 29 per cent share in TANAP as follows: Statoil and BP are to receive 12 per cent each and Total would get five per cent.
The TANAP project provides gas delivery 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 6 billion cubic meters will be delivered to Turkey, and the rest - to Europe.