Dec 12 - TANAP Construction Will Start in 2014

Source Press Release
Company SOCARBotasBP Plc. 
Tags Pipelines/ tankers/ distribution
Date December 07, 2012
Rovnag Abdullayev head of the State Oil Company of Azerbaijan (SOCAR) stated that construction of the Trans-Anatolian gas pipeline (TANAP) is planned to begin in 2014.Presently work is underway on the design, determining of land plots through which the pipeline will run, as well as to draw up reports on the impact on environment and social sphere.

According to initial reports, the partners intend to distribute a 29 percent share in TANAP as follows: Statoil and BP are to receive 12 per cent each and Total would get 5 percent.

Presently, a 20-percent share in TANAP belongs to Turkish BOTAS and TPAO, while 80 percent is owned by the State Oil Company of Azerbaijan (SOCAR).  SOCAR intends to retain 51 percent of the equity in the project. Turkey will keep 20 percent of the equity.

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