Tuesday, September 02, 2014

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Rovnag Abdullayev: SOCAR Sees Trans-Anatolian Agreement in March or April

Rovnag Abdullayev (Source: SOCAR)
Rovnag Abdullayev (Source: SOCAR)

Chairman of the State Oil Company of Azerbaijan Republic (SOCAR) Rovnag Abdullayev has said that the company wishes to sign inter-governmental and host country agreements on the Trans-Anatolian pipeline (TANAP) by March or April of this year, Reuters reports.

SOCAR also that several firms, including BP, Statoil and Total had stated an interest in the pipeline project.

Mr. Abdullayev also said today that SOCAR was planning to sell part of its 80 per cent stake in the TANAP project following the signing of the agreements, although he did not specify what size stake in the project would be up for grabs.

Turkish companies BOTAS and TPAO hold a ten per cent stake each in the project.

The Trans-Anatolian pipeline will transport gas from the massive Azeri gas field Shah Deniz to Europe, with the pipeline to pass through Turkey. An initial capacity of 16 billion cubic metres of gas a year is expected to pass through the pipeline, rising to 24 billion cubic metres at a later stage.

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