BUSINESS

TANAP pipeline project draws expressions of interest

BP Plc, Statoil ASA and Total SA have expressed interest in part of the State Oil Co of Azerbaijan?s 80 percent stake in the planned Trans-Anatolia natural gas pipeline, the Azeri company?s president said on Wednesday.

Countries including Ukraine are also interested in a stake in the TANAP pipeline project, Rovnaq Abdullayev, president of the company known as Socar, told reporters in Baku, the Azeri capital.

The 2,000-kilometer pipeline will carry Caspian gas across Turkey to Europe.

TANAP may carry 10 billion cubic meters of gas a year to the European Union from Shah Deniz, while Turkey will buy 6 billion cubic meters.

Abdullayev dismissed reports that Turkey is seeking to raise its 20 percent stake in TANAP, saying no changes to the shareholdings set forth in the December agreement are under discussion.

?The distribution of stakes has already been decided,? he said.

?It is 80 percent to 20 percent.?

Azerbaijan will choose one of two delivery routes west of the Bosporus Sea, either through Greece to Italy, or through Bulgaria, Romania and Hungary to Austria, because it doesn?t yet have enough gas to send via both routes, Abdullayev said.

[Bloomberg]

Online