Cistran Finance Exploring the Spirit of Capitalism's New Frontier

Sunday, April 5, 2020

SOCAR to start funding TANAP shares Wednesday

The State Oil Company of Azerbaijan Republic (SOCAR) will begin funding its shares of the Trans Anatolin Natural Gas Pipeline (TANAP) on Wednesday. 

The 831-mile pipeline is expected to have a capacity of 565 billion cubic feet per year, and 21 billion of that will be sent to Turkey beginning in 2018. The remaining amount will be utilized by Europe in 2020 through the Trans Adriatic Pipeline.

The three companies building the pipeline are Sicim-Yuksel-Akkord Adi Ortakligi, Tefken Insaat ve Tesisat A.S. and Fernas Insaat A.S.

"The three companies will build a section of the pipeline up to the city of Eskisehir [Turkey]," SOCAR President Rovnag Abdullayev said. "Then, in late 2015 – early 2016, we will complete the tender for the construction of TANAP's remaining section of 48 inches diameter. We decided to hold [the tender] later, as the first gas to go via the gas pipeline, will be received by Turkey in the city of Eskisehir."


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.