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 today.az
More on the topic
- 15.01.2014 Azerbaijan suspends gas delivery to Russia
- 14.01.2014 Azerbaijan defines route for pumping additional oil volumes
- 09.01.2014 SOCAR Petrolium Georgia stopped importing oil products from Azerbaijan to Georgia
- 27.12.2013 Azerbaijani SOCAR, Dutch Fugro shake hands for JV
- 16.12.2013 Almost 95 percent of Azerbaijan’s export consists of oil and gas production
- 01.11.2013 SOCAR embarks on well drilling as part of creation of underground gas storage
- 18.09.2013 SOCAR to purchase DESFA at the cost of state funds
- 03.09.2013 SOCAR dismantles platform in Bulla-Deniz field
- 20.08.2013 Azerbaijan, Russia in talks on reverse oil pumping via Baku-Novorossiysk pipeline
- 28.06.2013 Shah Deniz Consortium chooses TAP for Southern Gas Corridor
- 24.06.2013 Black Sea Trade and Development Bank approves loan for SOCAR