SOCAR Turkey: Azerbaijani gas to be cheaper than Iranian or Russian

Azerbaijani gas will be cheaper than Iranian or Russian, the head of SOCAR Turkey Enerji, a board member of Petkim Petrochemical Holding Kenan Yavuz said, Haberturk newspaper reported on Thursday.

According to him, SOCAR (the State Oil Company of Azerbaijan) is to launch TANAP in 2018.
He also said that SOCAR is not in words but in reality, an investor which invests in a variety of areas, including risky ones.

SOCAR partners on the Shah Deniz gas field development project presented their preliminary intentions to acquire a stake in the TANAP project. According to the preliminary data, the partners intend to distribute a 29 per cent share in TANAP as follows: Statoil and BP are to receive 12 per cent each and Total would get five per cent.

The TANAP project envisages transporting gas from the Azerbaijani Shah Deniz field to Europe through Turkey. The initial capacity of the pipeline is expected to reach 16 billion cubic meters per year. About six billion cubic meters of gas will be supplied to Turkey and the rest to Europe.

Adapted from