Abc.az: SOCAR: BP to close the deal on purchase of 12% of participation in TANAP before the end of this year

The State Oil Company of Azerbaijan Republic (SOCAR) expects the deals on purchasing participation in Tran Anatolian pipeline project (TANAP) to be fully closed very soon.

According to Vagif Aliyev, SOCAR Investment Department Manager, the procedure of purchasing 12% participation in TANAP will be completed by BP before the end of this year.

“Botas has already completed its procedure on purchasing of 30% of participation in the project. In accordance with the calculations, the total volume of investments into TANAP will make $11.3 bn. The construction works are planned to be started in April 2015 and in spite of expected complications with the construction (due to the length of the territory where the pipeline will be laid) TANAP pipeline will be commissioned in mid 2018”, - Aliyev said.

TANAP pipeline is a part of the Southern Gas Corridor targeted at providing supplies of Azerbaijani gas to the EU.
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