Turkey to make $4 billion during TANAP construction

Turkey will make a profit of $4 billion from construction of the trans-Anadolu gas pipeline (TANAP) construction, Turkish media reported quoting Turkish Minister of Energy and Natural Resources Taner Yildiz.

“In quarter 2, 2014 we plan to lay the foundation of TANAP and in  2018 we are going to put it into operation. We will need 1.8 million pipes for the pipeline construction. The customers for pipes deliveries will be determined in 2014,” Minister said.

He said the project implementation will contribute to development of Turkey’s industry and accelerate development of 19 cities of the country.

“Considering purchase of goods and services to the amount of $8 billion for the project, Turkey’s dividends from use of business possibilities, labor force, operation of trade and logistics objects will total $4 billion,” Yildiz said. The documents on construction of TANAP were signed in Istanbul on June 26, 2012.

TANAP gas pipeline will be used to transport Azerbaijani gas from the Shah-Deniz Phase 2 field from the Georgian-Turkish border to the western border of Turkey. The carrying capacity of the gas pipeline will total 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 $10-11 billion.--0—