'TANAP will be reliable source in ensuring European energy security '

The Trans-Anatolian gas pipeline project (TANAP) will become a reliable source in ensuring Europe's energy security, Azerbaijani Foreign Minister Elmar Mammadyarov said in an interview with some Azerbaijani and foreign media outlets.

"We can say with confidence that TANAP will be of great importance as a reliable source in ensuring Europe's energy security in the future," Mammadyarov said.

He said that the agreement signed between Azerbaijan and Turkey to implement TANAP indicates availability of a vast potential for close cooperation between the countries.

The Intergovernmental Agreement on the implementation of TANAP was signed by Azerbaijan and Turkey on June 26. TANAP project envisages gas transportation from "Shah Deniz" field to Europe through Turkey.

The initial capacity of the pipeline is expected to reach 16 billion cubic meters a year. About six billion cubic meters will be delivered to Turkey, and the rest - to Europe.

At present, a 20-percent share in TANAP belongs to Turkish BOTAS, while 80-percent to 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.

As Mammadyarov said, energy sector is certainly one of the main areas of cooperation between Azerbaijan and Turkey.

"Magnificent success of projects jointly implemented by our countries, such as the Baku-Tbilisi-Ceyhan pipeline and Baku-Tbilisi-Erzurum gas pipeline proved themselves at the global level and led to the emergence of new players on the world energy map," Mammadyarov said.

The implementation of all mentioned projects, forming the East-West energy corridor, according to Mammadyarov, is a successful strategic move towards ensuring regional security, strengthening of peace and economic development.

However, as Mammadyarov said, the cooperation between Turkey and Azerbaijan in the energy sector is not limited to the TANAP project.


/Trend/