According to sources close to the matter, the World Bank and the European Investment Bank are ready to invest, respectively, 1 billion dollars and 1 billion euro in the project of the Trans-Anatolian gas pipeline (TANAP). The TANAP project envisages transporting gas from the Shah Deniz II field in Arzebaijan to the border with Europe, via Turkey, SOCAR, State Oil Company of dell’Arzebaijan, holds 58% of the shares of TANAP, the Botas, the Turkish gas distribution company, holds 30% and British Petroleum 12%. While the estimated cost at first was around 11.7 billion dollars, this projection is gradually dropped to 9.2 following a revision. The vice president of the European Investment Bank, Pim Van Ballekom said that the bank has planned to allocate 1 billion euro for the project. It is expected that the initial capacity of TANAP will be around 16 billion cubic meters per year, which gradually will reach 31 billion cubic meters. Turkey will receive six billion cubic meters, while the remaining volume will be shipped to Europe. The gas will reach Turkey in 2018 and, after the construction of the Trans Adriatic Pipeline (TAP), will arrive in Europe in 2020. SaltukDüzyol, General Manager of TANAP, on the occasion of a meeting held on April 20, said: “The consortium of TANAP project has already scheduled a joint venture to build the section of 459 km, from the province of Eski?ehir on the border with Greece. Are all contracts, except for the submarine segment already been signed. Our goal is to complete the project by June 2018, but we will work hard to complete it in advance”.


Source: medNews