SOCAR starts funding it's share in TANAP project

Baku, April 2,

AZERTAC

The State Oil Company of Azerbaijan (SOCAR) starts funding its own equity in the project Trans-Anatolian Natural Gas Pipeline (TANAP).

According to the Cistran Finance, SOCAR and the Turkish Company BOTAS have 30% stake in the project. BP intends to acquire the remaining 12% stake in the company.

TANAP project should start in 2018 to deliver gas to Turkey, and in 2020 - to supply gas to European consumers.

Companies Sicim-Yuksel-Akkord Adi Ortakligi, Tefken Insaat ve Tesisat AS and Fernas Insaat A.S were selected for the construction of the pipeline.