TANAP expenses to increase by $10 billion

Expenses for construction of the Trans-Anatolia Gas Pipeline (TANAP) have grown by 43% from $7 billion to $10 billion, as stated by Kenan Yavuz, head of SOCAR Turkey Energy and board member of Petkim.

Azerbaijani investments in Turkey will increase from $17 billion to $19-20 billion until 2018.

20% of TANAP shares belong to BOTAS and TPAO and 80% to SOCAR. TANAP will transport gas from Shah Deniz to Europe through Turkey. It is expected to have the initial capacity of 16 billion cubic meters of gas annually. 6 billion cubic meters will be consumed by Turkey and the rest by Europe.

Adapted from Vestnik Kavkaza