13216
BP Joins Turkey, Azerbaijan in TANAP Pipeline
Energy

BP Joins Turkey, Azerbaijan in TANAP Pipeline

BP joined Friday the consortium developing the 31 billion cubic meters per year (bcm/y) TANAP gas pipeline, taking a 12 percent stake in the 1,850 km-long project to connect Azeri national oil company Socar and Turkey's state gas importer Botas.
In a signing ceremony broadcast on Turkish TV, BP's regional head Gordon Birell said that over the past 5-10 years Turkey had become a major energy hub, and that as such becoming a partner in the TANAP project was an important step for BP as well as an important opportunity for Turkey's energy security, Platts reported.
Turkish Energy Minister Taner Yildiz said the gas carried by TANAP would be used by both Turkey and Europe, with the first gas supplies expected in late 2018.
Construction of TANAP, which is expected to cost around $9 billion, is slated to begin March 17 with a ground-breaking ceremony near the northeastern Turkish city of Kars.
The line will run from there to the Turkey-Greece border where it will connect with the planned Trans-Adriatic Pipeline (TAP).
Initially the line is slated to carry 16 bcm/y of gas from the second phase of development of Azerbaijan's BP-operated Shah Deniz gas field.
Of this, 6 bcm/y will be taken by Botas at the line's only take-off point close to the northwestern Turkish city of Eskisehir and the remainder will be piped to the European market via the TAP line. Gas has yet to be sourced for the remaining 15 bcm/y capacity.

 

Short URL : http://goo.gl/PGuCwQ

You can also read ...

Iran Parliament's Think Tank: Need to Cut Appetite of High Electricity Consumers
The Majlis Research Center says consumers who exceed...
Iran Oil Ministry: South Korea Making Contradictory Statements
South Korea has not purchased any petroleum products from Iran...
Iran: Premium Gasoline Production Will Resume at 2 Major Refineries
Production of premium gasoline, marketed as "super", will...

Trending

Googleplus