Turkey Signs With China’s Tianchen to Construct Gas Storage
By Ali Berat Meric - Nov 29, 2011 3:34 AM ET
Turkey agreed with China Tianchen Engineering Corp. to construct up to 1 billion cubic meters of underground natural gas storage capacity in the center of the country.
The project near Tuz Golu, a lake south of Ankara, will be the biggest Chinese investment in Turkey to date, Fazil Senel, director of state pipeline operator Botas Boru Hatlari Ile Petrol Tasima AS, or Botas, told reporters today. Financing for the project, estimated at about $640 million, is provided by a World Bank loan signed in 2006.
More:Turkey Signs With China’s Tianchen to Construct Gas Storage - Bloomberg