Cistran Finance Exploring the Spirit of Capitalism's New Frontier

Sunday, June 24, 2018

TANAP pipeline work set to begin in early 2015

United States-Azerbaijan Chamber of Commerce

The groundbreaking ceremony for the Trans-Anatolian gas pipeline (TANAP) is expected to be held in early 2015, with actual construction on the project slated to begin in Azerbaijan on April 1, 2015.

The TANAP pipeline will transport gas from the Shah Deniz field in Azerbaijan, through Turkey and up to the country’s European border. Its estimated cost is between $10 and $11 billion.

Rovnag Abdullayev, the head of Azerbaijan's State Oil Company (SOCAR), recently said that no changes are expected in the structure of the shareholders regarding the pipeline project. Currently, SOCAR’s share will be equal to 58 percent, and BP and Botas will be 12 and 30 percent, respectively.

The 1,118-mile pipeline is expected to have an initial capacity of 16 billion cubic meters per year, with 6 billion cubic meters of gas delivered to Turkey and the rest of Europe. The capacity can be expanded to 31 billion cubic meters of gas per year.

Organizations in this Story

United States - Azerbaijan Chamber of Commerce

Want to get notified whenever we write about United States - Azerbaijan Chamber of Commerce ?
Next time we write about United States - Azerbaijan Chamber of Commerce, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.