TODAY.AZ / Business

Turkey to get $15B more from Azerbaijan’s huge energy projects – BP

17 July 2017 [17:15] - TODAY.AZ

By  Trend


Turkey has received $8 billion from such Azerbaijani projects as Baku-Tbilisi-Ceyhan (BTC) Pipeline, the Trans-Anatolian Natural Gas (TANAP) Pipeline and the Shah Deniz projects to date, said BP's Global Refining and Marketing CEO, Tufan Erginbilgic.

He added that $15 billion more will also come from these huge energy projects, Turkish media reported.

BP's CEO said that the process of implementation of TANAP project is moving forward as planned.

"We plan to have gas flowing to Turkey next year. Industry growth in terms of gas will be faster than coal and oil in the next 20 years,” he added.

Erginbilgic pointed out that when the Southern Gas Corridor project is completed, Caspian natural gas will be shipped to Europe for the first time in history, with Turkey also playing a very important role, adding that Turkey is a crucial strategic business partner for BP.

"We work with Turkey's state-owned companies such as Turkish Petroleum (TP) and BOTAS in mega projects like Baku-Tbilisi-Ceyhan and Shah Deniz. According to BP's assessment, the total contributions to Turkey from the BTC, TANAP and the Shah Deniz projects is over $8 billion,” he added.

TANAP project envisages transportation of gas from Azerbaijan's Shah Deniz field to the western borders of Turkey. The gas will be delivered to Turkey in 2018 and after completion of the Trans Adriatic Pipeline's construction the gas will be delivered to Europe in early 2020.

The length of TANAP is 1,850 kilometers with an initial capacity of 16 billion cubic meters of gas. Around six billion cubic meters of this gas is meant to be delivered to Turkey, with the remaining volume to be supplied to Europe.

TANAP shareholders are Azerbaijan's state oil company SOCAR (58 percent), BOTAS (30 percent) and BP (12 percent).

The total cost of the project is $8.5 billion.

Oil is delivered to Turkey’s Ceyhan port via the Baku-Tbilisi-Ceyhan (BTC) oil pipeline.

The total length of the B?? is 1,768 kilometers, including a 443-kilometer section running through Azerbaijan, a 249-kilometer section in Georgia and a 1,076-kilometer section in Turkey.

The pipeline’s construction started in 2003. It was filled with oil in 2005.

URL: http://www.today.az/news/business/163267.html

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