BP becomes shareholder of TANAP

Great Britain’s BP company and the consortium of the Trans-Anatolian pipeline (TANAP) have signed a document, according to which BP will become one of the shareholders of TANAP, Turkish TRT Haber TV channel reported.

Under the agreement signed in Turkey on Mar.13, BP will get 12-percent share in the project.

The TANAP project envisages the transportation of gas of Azerbaijan’s Shah Deniz field from the Georgian-Turkish border to the western borders of Turkey.

TANAP’s initial capacity is expected to reach 16 billion cubic meters of gas per year. Around six billion cubic meters of this gas will be delivered to Turkey and the rest of the volume to Europe.

Turkey will obtain gas in 2018 and after the construction of the Trans Adriatic Pipeline (TAP), gas will be delivered to Europe in early 2020.

The project’s cost is estimated at $10-$11 billion.

/By Trend/