Iran Wants to Get Share in TANAP

Iran wants to buy a stake in the Trans-Anatolian gas pipeline (TANAP), SOCAR President Rovnag Abdullayev told the media on April 4. The head of the State Oil Company said that SOCAR is ready to consider offers to sell part of its stake in the project.

"The project TANAP is very profitable. Therefore, our share can only be sold, without other options. If there is a good offer, then we are ready to discuss it," said Abdullayev.

According to him, the proposals have already been received. "After lifting the sanctions against Iran the TANAP value will increase substantially. Iran will increase its gas production, and except TANAP there is no other alternative to exit the Iranian gas to international markets."

Recall that TANAP is built to transport Azerbaijani gas from the field Shah Deniz through Georgia and Turkey to Europe.

The capacity of the pipeline at the first stage will be 16 billion cubic meters per year and at the next step it is to increase to 31 billion. Most of the gas will go to Europe via the Trans Adriatic Pipeline (TAP) and 6 billion cubic meters will go to Turkey.

Currently SOCAR has a 58% stake in TANAP. On March 13, 2015, BP joined the shareholders with a share of 12%, and Botas from Turkey purchased 30% before.

When connecting Iran to TANAP, gas supplies to Europe could increase significantly. Moreover, the project Nabucco, which some people "buried" because of unprofitability, will become topical again. With the possible connection of Turkmenistan to TANAP, the issue of providing Europe with gas can be closed completely. -02D-