TANAP Work to Begin by Autumn

The State Oil Company of Azerbaijan Republic (SOCAR) has announced that work will begin on the Trans-Anatolian Pipeline (TANAP) by autumn of this year.

"Work has begun on the preparation of a feasibility study of the TANAP project. It is planned to begin the actual work by the autumn of 2012," vice president of SOCAR Vagif Aliyev said.

This work will include the manufacturing of the pipelines needed for the 2,000 kilometre pipeline and the ordering of other necessary equipment needed to begin the project. The construction would begin after essential deals had been signed, Mr. Aliyev said.

"Today, we are completing preparation of the documents on intergovernmental agreement on construction of this gas pipeline after which the project implementation starts."

The vice president said that the pipeline project had drawn interest from several parties, particularly in relation to the division of SOCAR's share in the pipeline. SOCAR holds an 80 per cent share in the pipeline while Turkey's TPAO and BOTAS hold a 10 per cent stake each.

"We have already received several proposals from European companies on participation in the project and we are currently holding consultations with Turkish partners," Mr. Aliyev said. "If we pass a decision about concessions in the project to any of the companies, this will be done from the SOCAR share."

The TANAP project intends to transport gas from the massive Shah-Deniz 2 field to the rest of Europe through the 2,000 kilometre pipeline. Mr. Aliyev said today that the company expects this transport to begin by 2017.