Baku, Azerbaijan, Apr. 28
By Rufiz Hafizoglu - Trend:
The growth of the US dollar's rate in Turkey won't affect the implementation of energy projects, the expert of the Turkey-based Caspian Strategy Institute (HASEN), Efgan Niftiyev told Trend April 28.
He said that in general, the dollar's growth in Turkey is not related to internal factors.
"A similar situation is today being observed in many developing countries," said the expert.
Touching upon the impact of the US dollar's growth on the realization of the Trans Anatolian Natural Gas Pipeline (TANAP), Niftiyev said Turkey's investments in that project have been made mainly in the privatization of land plots, on which the pipeline will run.
Earlier, some Turkish media outlets said the rise of the dollar rate in Turkey is affecting the implementation of the TANAP project.
TANAP 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 6 billion cubic meters of this gas will be delivered to Turkey and the rest of the volume to Europe.
Turkey will receive gas in 2018. The gas will be supplied to Europe in early 2020 after the Trans Adriatic Pipeline (TAP) is constructed. The project's cost is estimated at $10 billion to $11 billion.
BP and the TANAP consortium signed March 13 a shareholder agreement, according to which BP will become one of the shareholders of TANAP. The agreement is one of the main documents for BP's ownership of a stake in the TANAP project.
Following the completion of a legal implementation procedure, TANAP's shareholders list will be as follows: SOCAR - 58 percent, Botas - 30 percent and BP - 12 percent.
The official exchange rate as of April 28 is 2.7293 TRY/USD according to Turkey's central bank.
Edited by CN
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