Today.Az » Business » TANAP is most important project of century: Turkish minister
13 June 2018 [11:25] - Today.Az
The Trans-Anatolian Natural Gas Pipeline (TANAP) is the most important project of the century, Turkish Energy Minister Berat Albayrak said June 12 at the TANAP opening ceremony in Turkey’s Eskisehir.
He noted that TANAP is also a project of peace and stability in the region.
“TANAP is a clear indicator of cooperation between Azerbaijan and Turkey,” Albayrak said.
The minister added that TANAP will ensure the energy security of Europe.
The launching ceremony of TANAP took place June 12 in Turkish Eskisehir city.
TANAP together with Trans-Adriatic Pipeline (TAP) is a part of the Southern Gas Corridor, which provides for the transportation of gas from the Azerbaijani field Shah Deniz to Europe.
The initial capacity of TANAP is expected to be 16 billion cubic meters of gas per year. About six billion cubic meters will be supplied to Turkey, and the rest to Europe. After completion of the TAP, the gas will reach Europe in early 2020.
The share distribution in TANAP is as follows: Southern Gas Corridor CJSC - 51 percent, SOCAR Turkey Enerji - 7 percent, Botas - 30 percent, and BP - 12 percent.
The launching ceremony of the first stage of the Southern Gas Corridor project was held in Baku on May 29.
The gas from the Azerbaijani Shah Deniz field has already gone through the first segment of the Southern Gas Corridor - from the Sangachal terminal to the expanded South Caucasus Pipeline.
The Southern Gas Corridor, which costs more than $40 billion, is one of the priority projects for the EU and provides for the transportation of 10 billion cubic meters of Azerbaijani gas from the Caspian region through Georgia and Turkey to Europe.
At the initial stage, the gas produced within the second phase of development of the Azerbaijani gas condensate field Shah Deniz is considered as the main source for the Southern Gas Corridor projects.
The gas in the second stage of the field development will be exported to Turkey and European markets through the expansion of the South Caucasus Pipeline and the construction of the TANAP and TAP pipelines.