BP and SOCAR sign agreement over TANAP

BP will join the Trans-Anatolian Pipeline (Tanap) project developed by State Oil Company of Azerbaijan (SOCAR), aimed at delivering gas from the Shah Deniz deposit to Europe along a pipeline that will extend as far as Turkey’s western border, Bloomberg Businessweek reports.

BP signed a framework accord to take 12 percent of the Tanap pipeline, BP Azerbaijan Vice President for Shah Deniz Al Cook said today in the Azerbaijani capital of Baku. The deal follows Chief Executive Officer Bob Dudley’s December 18 visit to Baku.

“BP is very committed to Tanap,” Cook said, adding a commercial agreement will be signed in the next few months.