The consortium for construction of the Trans Anadolu gas pipeline (TANAP) plans to start first gas export via the pipeline at the end of 2018, said Kenan Yavuz, President of SOCAR Turkiye Enerji.
“Implementation of this project worth $10 billion has been continuing successfully. We plan to complete construction of the TANAP gas pipeline section to Eskishekhir (city on the west of Turkey) till the end of 2018. This will allow starting Azerbaijani gas export from the Shah Deniz Phase 2 field to Turkey to satisfy its local demands,” Yavuz said.
He said construction of the remaining section of TANAP gas pipeline to export Azerbaijani gas to Europe will be completed later (because launching of the European section of Trans Adriatic (TAP) gas pipeline is scheduled for the end of 2020).
TANAP will be used to transport Azerbaijani gas from the Shah Deniz Phase 2 from the Georgian-Turkey border to the western borders of Turkey. The carrying capacity of the pipeline will initially be 16 billion cub.m., of which 10 billion cub.m. will be exported to Europe and 6 billion cub.m. to the western regions of Turkey.
30% in the TANAP project is owned by Turkish BOTAS, 58% by SOCAR and 12% by BP. SOCAR plans to sell 7% of its share to its daughter company SOCAR Turkey Energy to reduce its financial burden.—0—
Economics
-
On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
-
Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
-
Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
-
Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
Leave a review