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BP ready to join a TANAP gas pipe consortium probably at expense of SOCAR stake

Baku, Fineko/abc.az. A new strong member may appear in the consortium being formed by the State Oil Company of Azerbaijan (SOCAR), BOTAS and TPAO for construction of Trans-Anatolian gas pipeline (Trans Anadolu Dogalgaz Pipeline; TANAP).

In an interview for The Financial Times BP Vice President on Shah Deniz field development Alastair Cook stated that BP received a direct offer to join the TANAP project.

"The decision on this matter will be taken in the near future," he added.

The possible entering in the TANAP consortium by BP will be carried out at the expense of SOCAR debt in it.

In accord with the Memorandum of Intentions on TANAP construction signed on 26 December 2011 by yesterday by Industry & Energy Minister Natig Aliyev of Azerbaijan and Energy & Natural Resources Minister Taner Yildiz of Turkey the consortium members are still the SOCAR and TPAO with equity stakes of 80% and 20% respectively. At that, the Memo says that Trans Anadolu Dogalgaz will also be open for other international gas companies.

The gas pipeline is designed for supply of 6 bn cu m of gas from Shah Deniz field in Azerbaijani sector of the Caspian Sea to western regions of Turkey and 10 bn cu m of gas to Europe (to the Turkish-Bulgarian border). The gas pipeline is estimated at $5 bn (its final cost will be specified after conclusion of agreements with construction contractors). The project implementation period is 5 years.

BP received the offer to join the TANAP in the process of preparing to export gas to Europe within the second stage of Shah Deniz Project.

"The decision to choose a route for gas export from Shah Deniz field to Europe will be made in mid-2013," Cook said.

In accord with the Memorandum of Intentions on TANAP construction signed on 26 December 2011 by yesterday by Industry & Energy Minister Natig Aliyev of Azerbaijan and Energy & Natural Resources Minister Taner Yildiz of Turkey the consortium members are still the SOCAR and TPAO with equity stakes of 80 % and 20% respectively. At that, the Mmeo says that Trans Anadolu Dogalgaz will also be open for other international gas companies.

The gas pipeline is designed for supply of 6 bn cu m of gas from Shah Deniz field in Azerbaijani sector of the Caspian Sea to western regions of Turkey and 10 bn cu m of gas to Europe (to the Turkish-Bulgarian border). The gas pipeline is estimated at $ 5 bn (its final cost will be specified after conclusion of agreements with construction contractors). The project implementation period is five years.

 

 


17.03.2012 09:14


   


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