Turkish President Abdullah Gul has ratified the intergovernmental deal on the realization of the Trans-Anatolia Gas Pipeline (TANAP) project, Trend reports.
The document was signed by Azerbaijan and Turkey on June 26. They signed a memorandum of mutual understanding to found a consortium to build the pipeline to transport Shah Deniz gas to Europe through Turkey. 20% of project's shares belong to BOTAS (Turkey) and 80% to SOCAR (Azerbaijan).
The pipeline will have an initial capacity of 16 billion cubic meters of gas annually. 6 billion cubic meters will be exported to Turkey and the rest to Europe.
