Turkey is going to increase its share in the trans-Anadolu pipeline (TANAP) project up to 30%, said Turkish Minister of Energy and Natural Resources Taner Yildiz at the ceremony of signing of the final investment decision on the Shah-Deniz-2 project in Baku yesterday.
He said increasing Turkey’s share in the TANAP project is very important for his country.
Minister added that the projects currently implemented in the region are extremely important.
SOCAR’s President Rovnag Abdullayev said earlier that Turkey’s share in the TANAP could be increased.
He said that Turkey’s share could be increased at the expense of the shares offered to Statoil and Total companies. The both companies have recently stated they are not going to join the TANAP project, though they have been negotiating with SOCAR since October 2012 to get 12% and 5% shares, respectively. Turkish state-run pipeline company BOTAS owns 20% share in TANAP.—0—
Economics
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Azerbaijan’s ADY Express, a subsidiary of Azerbaijan Railways CJSC, signed several strategic agreements on the sidelines of the Logitrans Türkiye 2024 exhibition in Istanbul, Turkey, reinforcing its commitment to expanding freight transport services along the Middle Corridor.
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Azerbaijan plans to establish state-of-the-art battery storage facilities for green energy with a total capacity of 350 MW within the next 4-5 years, a well-informed source in the Ministry of Energy told Turan.
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Shareholders of the Caspian gas condensate "Absheron" project plan to approve the Front End Engineering Design (FEED) in December, laying the groundwork for full-scale development of the field, an informed source told Turan.
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In 2024, Europe will receive approximately 12.5 billion cubic meters of gas from Azerbaijan, with the list of buyers expanding to 12 countries. Speaking at an energy forum in Istanbul on Friday, SOCAR President Rovshan Najaf announced that cooperation with a 12th, new gas buyer would begin in December.
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