Cistran Finance Exploring the Spirit of Capitalism's New Frontier

Monday, November 20, 2017

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 1212 Potomac Street, N.W. Washington, D.C. - 20007

Get notified the next time we write about United States - Azerbaijan Chamber of Commerce!