Today State Oil Company of Azerbaijan (SOCAR) and BP company will sign a commercial agreement on purchase-sale within the framework of the trans-Anadolu (TANAP) gas pipeline project, a source from BP Turkey company told Turan’s correspondent.
By having signed the document BP will become a full shareholder of TANAP Co company.
The same source said that BP TANAP Ltd company will legally represent British company in TANAP, which will have 12% share in the project.
BP Turkey representative told Turan that BP’s joining the TANAP has been agreed with the Turkish side. On December 13, 2013 the tripartite documents were between the Ministry of Energy and Natural Resources of Turkey, SOCAR (the project operator) and BP.
Since today the shares of the TANAP partners are distributed as following: SOCAR – 68%, BOTAS – 20% and BP-12%.—0—
Economics
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The Cabinet of Ministers of Azerbaijan has approved a set of regulations to govern the approval of agreements under the country’s competition law, aimed at fostering compliance with legal frameworks and enhancing market transparency.
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Azerbaijan's ambitious program to restore territories liberated from Armenian occupation has attracted attention due to the extensive use of single-source procurement methods, raising concerns about transparency and corruption.
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