SOCAR to Take 80% of Trans-Anatolian Pipeline

The State Oil Company of Azerbaijan Republic (SOCAR) will take an 80 per cent stake in the Trans-Anatolian pipeline, SOCAR president Rovnag Abdulleyev has said.

Speaking to an Azerbaijani television channel, Mr. Abdullayev said that SOCAR would take the majority 80 per cent stake with Turkey taking the remanining 20 per cent stake.

"SOCAR will be the leader in this consortium," he said. "The memorandum will form the basis for Azeri gas exports to Europe. The transit gas pipeline will be constructed from the Georgian –Turkish border to the Turkish border with Europe."

On Monday, Azerbaijani energy minister Natiq Aliyev and Turkish energy minister Taner Yildiz signed a Memorandum of Understanding (MoU) to build the pipeline to transport approximately 16 million cubic metres of Azeri gas a year. SOCAR will construct the pipeline together with Turkish companies BOTAS and TPAO.

Following the signing of the MoU, Minister Yildiz said that the new pipeline would not affect the construction of other pipelines planned in Turkey, including the Nabucco pipeline.

"We are Nabucco's partner and we have a 16 per cent share," he said. "We have made a hard effort to realise that project and continue to make efforts. Trans Anadolu Natural Gas Pipeline is an important alternative."

The Trans-Anatolian pipeline will begin construction in 2012 and end in 2017 following a feasibility study into the cost and other considerations.