BP plans to purchase part of the State Oil Company of the Azerbaijani Republic's (SOCAR) share in TANAP, spokesman of the BP office in Turkey Bud Fackrell said, 1news.az reports.
80% of TANAP shares belong to SOCAR and 20% to BOTAS and TPAO. SOCAR’s proposal on involvement in the project will most likely be considered in mid-2013.
The TANAP deal was signed in Istanbul on June 26, 2012. The pipeline will transport Azerbaijani gas from the Georgian-Turkish border to western Turkey. The pipeline will have a capacity of 16 billion cubic meters of gas annually (10 billion for Europe and 6 billion for Turkey). Its capacity may increase in the future.
