Talks on increasing the share of BOTAS in TANAP project are held in Turkey

The meeting between representatives of SOCAR and Turkey on the acquisition of an additional ten percent participation in the construction of the Trans-Anatolian gas pipeline (TANAP)will be held next meeting in Turkey, SOCAR President Rovnag Abdullayev said in  an interview with reporters said. According to him, at a meeting with the Turkish side will take part  a Minister of Energy and Natural Resources Taner Yildiz.

Concerning the share distribution plan , the head of the State Oil Company noted that at this stage the following relevant layout : SOCAR - 58 %, BOTAS - 30% and the company BP - 12%.

SOCAR president also said that preparations for the adoption of a final investment decision in the framework of this ambitious project  will completre  late April.

"The works on the project are  carried out in accordance with the prescribed schedule. If we are to meet the deadline, till the end of this year will begin construction works, and in 2015 they will enter into an active phase," he said.

 Initial throughput capacity of TANAP  will be 16 billion cubuc meters per year, of which  six billion cubic meters will be delivered to Turkey , and the remaining volumes to Europe. In the future, the pipeline can be expanded up to 31 billion cubic meters per year . The TANAP  project cost is estimated at $12 billion -12C –