Turkish Prime Minister Recep Tayyip Erdogan and Azeri President Ilham Aliyev signed the agreement officially launching the project, accompanied by the energy ministers of both countries.
The $US7 billion project will deliver natural gas from Azerbaijan’s Shah Deniz 2 gas field to Turkey and beyond via a 2,000 km pipeline.
The Trans-Anatolian Pipeline (TANAP) will carry approximately 16 Bcm/a of gas, 6 Bcm/a of which will be used for Turkey’s domestic market, while the rest will continue on to Europe.
The construction of the pipeline is scheduled to commence in 2013, with the first phase planned to be commissioned in 2016. The project will be open to expansion and international participation in its second phase.Article continues below…
TANAP will be 80 per cent owned by Azeri state firm SOCAR and 20 per cent by Turkey’s BOTAS.