Contract on increase of equities in Shahdeniz 2 and TANAP to be signed today

Baku: Today, a signing ceremony on increase of equities in Shahdeniz 2 and TANAP pipelines will be held in Istanbul.

TANAP told APA-Economics that the ceremony is expected to be attended by Azerbaijani Energy Minister Natig Aliyev, SOCAR President Rovnag Abdullayev, Turkish Prime Minister Recep Tayyip Erdogan and Minister of Energy and Natural Resources Taner Yildiz.

At the ceremony, four agreements are expected to be signed. First of these documents is related to purchase of TPAO – Total part, which will be signed by TPAO Director-General Besim Shishman and Total-Azerbaijan Director General Christian Guidicelli. The second one is about signing of sale and purchase TANAP parts between Turkish BOTAS and SOCAR. The document will be signed by BOTAS Director-General Mehmet Konuk and SOCAR president and head of TANAP Board of Directors Rovnag Abdullayev.

The third document is related to BOTAS and TANAP gas transportation and will be signed by BOTAS Director General Mehmet Konuk and SOCAR president and head of TANAP Board of Directors Rovnag Abdullayev. The fourth document is a intergovernmental agreement protocol between Turkey and Azerbaijan on TANAP. This document will be signed by the Azerbaijani Minister of Energy Natig Aliyev and Turkish Minister of Energy and Natural Resources Taner Yildiz.

After signing the documents, the SOCAR’s equity in TANAP is expected to reduce to 58% from 68%.

SOURCE: AZERI PRESS NEWS AGENCY

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