Baku, Azerbaijan, June 1
By Maksim Tsurkov - Trend:
The SOCAR Turkey Enerji will acquire a 7-percent share in the project of construction of the Trans Anatolian Natural Gas Pipeline (TANAP), Zaur Gahramanov, the company's director general, told reporters June 1 in Baku.
"Due to the start of summer, the process of acquisition of the shares may be slightly delayed, but we expect to become a TANAP shareholder until the end of the year," said Gahramanov.
It is expected that the 7-percent share will be acquired by Azerbaijan's state oil company SOCAR.
Gahramanov said all the permissions for this deal have been obtained from the Azerbaijani side and only the Turkish side's permission remains.
The TANAP project envisages transportation of gas of Azerbaijan's Shah Deniz field from the 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), gas will be delivered to Europe in early 2020.
The project's total cost is estimated at $9.8 billion. Currently, the shareholders of TANAP are: SOCAR - 58 percent, Botas - 30 percent and BP - 12 percent.
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