TANAP – a win-win project, head of consortium says

The Trans-Anatolian Natural Gas Pipeline (TANAP) is a win-win project, Head of TANAP consortium Saltuk Duzyol said, the agency Anadolu reported May 14.

Duzyol said that tenders worth $4.5 billion have been announced until now within the TANAP gas pipeline construction project.

As many as 900 kilometers of pipes have been supplied so far within the TANAP construction, 80 percent of which was produced in Turkey, Duzyol said.

“As many as 480 kilometers of pipes were welded as part of the TANAP construction given a total length of the pipeline in 1,334 kilometers,” said the head of the consortium.

He said that the decline in international oil prices has had a positive impact on the implementation of the project.

Iraqi gas may be transported to Europe via TANAP – consortium head

“The initial cost of the project amounted to $11.7 billion,” Duzyol said. “The decline in world oil prices made it possible to save $2.5 billion on the project’s implementation. Currently, the project costs $9.2 billion.”

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

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

Currently, the shareholders of TANAP are: the State Oil Company of Azerbaijan (SOCAR) – 58 percent, Botas – 30 percent and BP – 12 percent.

Source: Trend