Botas in Negotiations to Join Shah Deniz Consortium

Turkey’s Botas could join the Shah Deniz consortium, buying shares from France’s Total. According to Bloomberg, the two companies are in talks about their stake in the main infrastructural project in Azerbaijan.

The Turkish state pipeline Botas already cooperates with Azerbaijan’s SOCAR for the construction of the TANAP project, which will transport gas through Turkey to Europe.

At the same time, Botas is said to be interested in the South Caucasus Pipeline (SCP), owned by a consortium led by BP (28.8%), SOCAR (16.7%), Statoil (15.5%) and Lukoil (10%). Total holds a 10% interest.

TANAP is the foundation of the Southern Corridor, as the entire pipeline would be impossible without this pipeline.

Earlier this February, Total reported lower earnings on diminished demand and decreasing refining margins.