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Thursday, March 21, 2019

TANAP partners may take on additional shareholders

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.