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Azerbaijan’s TANAP ratification ‘to open Southern Gas Corridor’ 28 novembre 2012

Posted by Acturca in Caucasus / Caucase, Energy / Energie, EU / UE, Turkey / Turquie.
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Azer News (Azerbaijan) Wednesday, November 28, 2012, p. 5

Seymur Aliyev

The Azerbaijani parliament`s decision to ratify the Trans-Anatolian gas pipeline (TANAP) agreement shows the concrete determination of the country to bring its gas to Europe, EU Energy Commissioner Gunther Oettinger said in a statement released by the EU Delegation in Baku.

« This pipeline will mean that gas is brought to Europe`s border, to then freely circulate within the European Union. It is a pleasure to welcome Azerbaijan, and more especially SOCAR [the Azerbaijani state energy firm], to the European Union`s energy market, » Oettinger said.

Last week the Azerbaijani parliament ratified the agreement on the construction of the TANAP pipeline, signed by the governments of Azerbaijan and Turkey. The TANAP project envisages the construction of a gas pipeline from Turkey`s eastern border to the western border to transport gas from Azerbaijan`s giant Shah Deniz field in the Caspian Sea to European markets through Turkey.

Azerbaijan`s SOCAR owns 80 percent in the TANAP project, while Turkey`s BOTAS holds the remaining 20 percent.

Initial capacity of TANAP is expected to be 16 billion cubic meters a year. Around 6 billion cubic meters will be delivered to Turkey, while the rest will be transported to Europe.

According to preliminary estimates, the cost of the gas link will be around $7 billion. The construction of the pipeline is scheduled to begin in 2014 and finish in 2018.

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