SOCAR President: “Preparation for taking TANAP FID will end at the end of April”

Baku: Agshin Rafigoglu; Turkey intends to acquire more 10%-equity in the construction of Trans Anatolian Pipeline (TANAP), which was designed for transportation of Azerbaijani gas, President of the State Oil Company of Azerbaijan Rovnag Abdullayev told journalists.

Abdullayev noted that this issue will be discussed at the meeting with Turkish Minister of Energy and Natural Resources Taner Yildiz next week. He said preparation for taking Final Investment Decision of TANAP project will end at the end of April.

SOCAR President stated that the works within TANAP are carried out under the schedule: “Problems in all areas where the pipeline will cross have been solved, maps compiled and geological works carried out. Nearly 900 km area has been documented and submitted to the BOTAS company. We’ll hold groundbreaking ceremony of the project by the year-end if we can. Main works will be carried out in 2015”.

Abdullayev said that following this, partners of the project – SOCAR will have 58%, BP 12% and BOTAS TPAO 30%.