TANAP very important for Europe

The Trans-Anatolian gas pipeline construction project, which is implemented by Azerbaijan and Turkey, is very important for Europe, Turkish Foreign Minister Mevlut Cavusoglu said in an interview with TRT Haber.

“The implementation of this project increases the importance of Turkey in the field of energy supplies,” he said on December 25.

The TANAP project envisages gas transportation from Azerbaijan’s Shah Deniz field to Europe through Turkey. The initial capacity of TANAP is expected to reach 16 billion cubic meters of gas per year.

Around six billion cubic meters of gas will be delivered to Turkey, and the remaining volume will be supplied to Europe. In the future, the capacity of the pipeline can be increased to 31 billion cubic meters.

The gas will go to Turkey in 2018, and after the construction of the Trans Adriatic Pipeline (TAP) the gas will reach Europe around in early 2020.

It is planned to commission TANAP in 2018. The project’s cost is estimated at $10-11 billion.

Following the completion of a legal registration process, TANAP’s shareholders will be as follows: SOCAR – 58 percent, Botas – 30 percent, and BP – 12 percent.