Turkish BOTAS pipeline company and BP Pipelined have applied to the Turkish Antimonopoly Committee to buy shares in the consortium for construction of the trans-Anadolu pipeline (TANAP), reads the information posted on the web site of the Turkish Antimonopoly Committee.
The information reads that BOTAS is going to buy 30% share in TANAP, while BP Pipelines – 12% share of Gas Corridor Closed Joint Stock Company (100% shares owned by SOCAR) in the consortium.
It is planned to put TANAP into operation in quarter 4, 2018. The project is estimated at $11.8 billion.
Until now BOTAS has not overcome all bureaucratic stages of the Turkish legislation to become a legal shareholder of the pipeline consortium, though SOCAR and BOTAS reached an agreement almost three years ago.—0—
Economics
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