Taner Yildiz: Nabucco TANAP Merger Possible

Turkish Energy Minister Taner Yildiz has said that a merger between the Trans-Anatolian Pipeline (TANAP) and the Nabucco pipeline may be possible. 

Speaking to CNBC-e today in Istanbul, Minister Yildiz said that the potential merger is to be discussed in a meeting of Nabucco shareholders will take place Tuesday. Minister Yildiz has previously raised the potential of Nabucco taking on a new partner to ensure the project is completed.

In a statement to the Trend news agency, Reinhard Mitschek, Managing Director of the Nabucco pipeline consortium confirmed that a meeting of Nabucco shareholders would take place today but did not detail what might be discussed at the meeting.

"We confirm that there is a regular shareholders meeting of the Nabucco shareholders in Vienna today," he said in an email. "Shareholders meetings take place on a monthly basis and we discuss the project related topics."

A merger between the two pipelines may breathe new life into the Nabucco pipeline, in which confidence has seemed to erode as costs continue to climb. 

Both pipelines are vying to transport gas from the massive Azeri gas field Shah Deniz, which is estimated to hold reserves of between 1.5 to 3 billion barrels of oil equivalent.