Tanap project attracts BP, Total and Statoil as partners
TANAP project (The Trans-Anatolian gas pipeline) which is established to carry Azeri gas to Turkey and European markets, has attracted the attention of three European energy giants as partners. Accordingly 3 companieshave reached a deal with Azeri state oil company SOCAR to acquire a 29 percent stake of the project.
BP Azerbaijan’s spokeswoman Tamam BAYATLY has made an announcement regarding SOCAR’s stake sale to BP, Total and Statoil saying “BP and Statoil will each have 12 percent of shares in the project while Total will own 5 percent”. She did not provide details of the deal closed.
Based on the deal between parties SOCAR will remain the principal backer of the project with 51 percent of stakes. On the other hand Turkish state owned oil exploration and distribution companies, TPAO and BOTAS are reported control 20 percent.
The USD 7 billion TANAP project is known to have been designed as the sole gas supplier but it is also open to other suppliers like TURKMENISTAN.
The construction stage of TANAP is due to start in 2013, with gas to start flowing in 2018. Once finished, the project is expected to provide big facilities to carry gas from Azerbaijan’s Shah Deniz field through Turkey over a 2,000-kilometer pipeline to European customers.
12.11.2012
BTT
