Turkish President ratifies TANAP agreement
Article | July 13, 2012 - 4:36pm | By Kostis Geropoulos
On 11 July, Turkish President Abdullah Gul ratified an intergovernmental agreement on implementation of the Trans-Anatolian gas pipeline project (TANAP). Azerbaijan’s President Ilham Aliyev and Turkish Prime Minister Recep Tayyip Erdogan signed an intergovernmental agreement on implementation of the TANAP pipeline project on 26 June. Baku and Ankara signed a memorandum of understanding in December 2011 to establish a consortium that will build a gas pipeline to deliver gas from the Azerbaijani offshore field Shah Deniz to Europe via Turkey. At present, a 20% share in TANAP belongs to Turkish BOTAS, 80% and Azeri state oil and gas company SOCAR. The initial capacity of the pipeline is expected to reach 16bn cubic metres a year. About 6bn cubic metres will be delivered to Turkey and the rest to Europe.
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