Türkiye’s stakes raised in TANAP & Azeri gas field, Shah Deniz

Hürriyet – Seen as an energy corridor linking the suppliers in the East and consumers in the West, Türkiye’s inking of two deals to raise its stakes in the The Trans-Anatolian Pipeline Project (TANAP) and the Azeri gas field, Shah Deniz II, will give the country an even more vital role to play in Europe’s energy security.

According to the agreements signed last Friday in Istanbul, the state-owned Turkish Petroleum Corp. (TPAO) has acquired a 10 percent stake in the Shah Deniz II gas field project from the French energy company Total, raising its own share to 19 percent, while another state-owned Turkish company, Petroleum Pipeline Corporation (BOTAS), secured a separate deal to increase its share in TANAP to 30 percent, up from 20 percent. The major partner in TANAP remains the Azeri state oil company, SOCAR with 70 percent stakes.

In a speech delivered at the ceremony, Türkiye’s Prime Minister Recep Tayyip Erdogan said that TANAP was a future-oriented project of strategic significance. “Passing through 21 Turkish provinces TANAP will bring substantial economic benefits to Türkiye”, Erdogan noted.

Planned to carry 16 billion cubic meters of gas per year, with 6 billion to be delivered to Türkiye and rest to European customers, the joint Turkish-Azeri project TANAP will pass through Turkish territory to link with The Trans-Adriatic Pipeline (TAP). The construction work on the 2000 km-long pipeline is scheduled to begin in 2014, with the first flow of gas taking place in 2019.

Developed by consortium partners BP, SOCAR, TPAO, Statoil and others, the Shah Deniz II natural gas field in the Caspian Sea will be the main gas supply for TANAP.

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