The selection of land for construction of the trans-Anadolu gas pipeline (TANAP) has already started, SOCAR President Rovnag Abdullayev told journalists.
He said SOCAR’s geologists have been working along the gas pipeline route jointly with Turkish Botas company’s specialists to select the land.
Abdullayev said that detailed engineering of the pipeline is currently in progress.
The documents on construction of TANAP were signed in Istanbul on June 26, 2012.
TANAP will be used to transport Azerbaijani gas from the Shah-Deniz field Phase 2 from the Georgian-Turkish border to the Turkish-Greek border. TANAP will be 1800km long. The initial carrying capacity of the gas pipeline will 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. TANAP cost is estimated at $12 billion.
20% in TANAP is owned by Turkish BOTAS and TPAO and 80% by SOCAR. SOCAR is going to preserve 51% shares and offer the remaining 29% to BP (12%), Statoil (12%) and Total (5%).—0—
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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