Work to Begin on TANAP in 2013

Construction will commence on the Trans Anatolian Pipeline (TANAP) in 2013, the Trend News Agency has reported SOCAR president Rovnag Abdullayev as saying.

Speaking to the media on Saturday, Mr. Abdullayev said that the pipeline consortium, which includes SOCAR, TPAO and BOTAS, will begin buying land in preparation of the construction next year. Construction will then commence on the pipeline in late-2013, Trend reports.

The $7 billion pipeline, which is expected to carry gas from the Azeri Shah Deniz field, was originally expected to begin construction in 2014. The pipeline is expected to carry gas from Azerbaijan through Turkey to the rest of Europe and will have a capacity of 16 billion cubic metres of gas a year.

SOCAR, the Azerbaijan state-run gas company, has an 80 per cent stake in the Trans Anatolian Pipeline, while Turkish companies TPAO and BOTAS hold a 10 per cent stake each. However, SOCAR has previously said that it will be offering portions of its 80 per cent stake to interested parties. It will still retain a majority stake for itself.

First preference on the SOCAR stakes will be given to companies that already have an existing interest or interests in Azerbaijan.