Exact investments into TANAP still not determined

SOCAR did not start talks with the new companies on their involvement into the trans-Anadolu gas pipeline (TANAP) yet, Kenan Yavuz, SOCAR Turkey Enerji President, member of Board of Petkim petrochemical holding, said yesterday at a press conference within the framework of the III Caspian Forum.

SOCAR’s partners for the gas condensate Shah-Deniz field development have submitted their preliminary intentions concerning acquisition of share in the TANAP project. According to the preliminary information, the partners must distribute 29% share in TANAP as following: Statoil and BP will get 12% each and Total – 5%.

He said total investments into the project implementation will reach $8-10 billion.

One can understand from his words that exact investments into the TANAP Phase 1, which includes construction of1790-km-long 56 inch diameter pipeline with the carrying capacity of 16 billion cub.m, have not been defined yet. However, work on the feasibility study of the project started long time ago. In 2014 it is planned to start acquisition of land and invite the first tenders.

SOCAR plans to launch TANAP in 2018.—0-