SOCAR President says TANAP will cost cheaper than planned

Baku: The Trans-Anatolian Natural Gas Pipeline (TANAP) will cost 20-25% cheaper than planned due to results of tender, SOCAR President Rovnag Abdullayev said.

First gas transportation via TANAP is planned to be carried out in 2018. The 1,850 km pipeline will deliver 10 bcm to Europe once it is connected to the Trans Adriatic Pipeline (TAP) by 2020. By 2023, TANAP’s capacity will rise to 23 bcm per year and then to 31 bcm by 2026.

The construction of the Trans Anadolu Gas Pipeline (TANAP) has been estimated to cost $10-$11 billion,

TANAP shareholders: The Southern Gas Corridor (58%), BOTAS (30%), BP (12%).