SOCAR "pegged" 80% for itself in Trans–Anatolian gas pipeline

Baku, Fineko/ State Oil Company of Azerbaijan (SOCAR) will become the leader of consortium on construction of Trans-Anatolian gas pipeline (Trans Anadolu Dogalgaz Pipeline). The memorandum on construction of the gas pipeline was signed yesterday by Industry and Energy Minister of Azerbaijan Natig Aliyev and Energy and Natural Resources Minister of Turkey Taner Yildiz. The gas pipeline is designed for supplies of Azeri gas from Shah Deniz field to Europe.

SOCAR president Rovnag Abdullayev has reported to Azerbaijani television that the consortium will be created in compliance with the memorandum , 20% of which will belong to Turkish side and 80% - to SOCAR.

"Thus SOCAR will be the leader in this consortium. The memorandum will form the basis for Azeri gas export to Europe. Transit gas pipeline will be constructed from Georgian –Turkish border to Turkish border with Europe ",- R. Abdullayev said.

Energy and Natural Resources Minister of Turkey has stated that SOCAR, BOTAS and TPAO will be created on this memorandum but Trans Anadolu Dogalgaz will be open for other international gas companies.

The gas pipeline will be designed for supply of 6 bn cu m of gas from Shah Deniz field in Azeri sector of the Caspian Sea , west regions of Turkey and 10 bn cu m of gas to Europe. So far the gas pipeline cost is estimated at $5 bn ( it will finally clarify after conclusion of agreements with construction contractors). The implementation period is 5 years.



27.12.2011 16:19


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