Ratified an intergovernmental agreement between Azerbaijan and Turkey

At today's session the parliament ratified an intergovernmental agreement between Azerbaijan and Turkey on the sale of natural gas and construction of a gas pipeline and the Trans-Anatolian gas pipeline system (TANAP).

According to the deputy chairman of the parliament Valeh Aleskerov, Azerbaijan uses 7 pipelines in different directions to transport hydrocarbons to the world market. TANAP can not be considered a completely new brainchild of the state oil company and its partners - it will be a continuation of the old pipeline that transported 6 billion cubic meters of gas per year up to the Turkish border. "On the territory of Azerbaijan and Georgia, construction is not provided. It will be laid in Turkey. The pipeline will be equipped with new compressors to run extra (initially presumed) 10 billion cubic meters to the border with the European Union. With the increasing gas production, the opportunities of transportation will also be increased. At this rate, corporate taxes and customs as well as benefits for the participants will be the same. The company's property is inviolable, and only expropriation under international law with full financial compensation of the costs is permitted," the Vice-speaker said.

The European energy project has raised many political obstacles, so the government of Azerbaijan is to take into account not only the interests of the business, but also many other factors, said Aleskerov.

Between the two countries on June 26 this year an intergovernmental agreement on TANAP was signed. According to the agreement, 80% of the stake is owned by the State Oil Company of Azerbaijan. 17D