Turkish Minister of Energy and Natural Resources Taner Yildiz said Monday that shareholder participants in the Trans-Anatolian Pipeline (TANAP) project are holding meetings with interested companies.
The TANAP project aims to bring natural gas from the Shah Deniz field in Azerbaijan to Turkey and throughout the European Union (EU) following further development. The pipeline's estimated annual capacity is 16 billion cubic meters with about 10 billion cubic meters expected to be distributed throughout the EU through Turkey.
Turkey is expected to receive gas in 2018 and gas is expected to flow to Europe in 2020, assuming construction and development are on schedule.
Currently three companies hold shares in the pipeline: The State Oil Company of the Azerbaijan Republic with 58 percent, BP with 12 percent and Botas with 30 percent.
Shareholder agreements were originally signed March 13, which is also when BP officially joined the shareholder roster.
- TKB Bank ranks in top 10 as listed by Expert RA agency
- TBC Bank named best bank in Georgia by Global Finance magazine
- Amirbekyan of Anelik Bank wins TFP Trade Expert award
- UniCredit sells non-performing mortgage loans
- European Investment Bank lends millions to AccessBank to finance small businesses
- First Ukrainian International Bank among most transparent financial institutions in region, study says
- VTB Bank named best trade-finance bank in Russia by magazine
- AtaBank, Central Bank of Azerbaijan Republic host financial literacy event
- Richard de Keijzer named managing director for ABN AMRO Commercial Finance in the UK
- Galt & Taggart named Best Investment Bank in Georgia by Global Finance magazine