Turkish parliament to ratify memorandum on TANAP

Turkish parliament is expected to ratify a memorandum of understanding signed earlier between Azerbaijan and Turkey on the Trans-Anatolian gas pipeline project (TANAP) in the coming days, Turkish Grand National Assembly told Trend on Monday.

"The exact date is unknown yet, but in the coming days, a memorandum will be approved by the parliament," the source said.

Azerbaijan and Turkey signed a memorandum of understanding to establish a consortium that will build a gas pipeline to supply gas from the Shah Deniz field to Europe through the Turkish territory. At present, BOTAS has a 20 percent stake in TANAP, and the State Oil Company of Azerbaijan (SOCAR) - 80-percent share.

The initial capacity of the pipeline is expected to reach 16 billion cubic meters per year. About six billion cubic meters of the volume will be allocated to Turkey, while the rest will be transported to Europe.

At present, Azerbaijan chooses the route for gas exports to Europe via Turkey. Azerbaijan currently exports gas to Turkey via the South Caucasus gas pipeline.


/Trend/