Turkish Foreign Minister Ahmet Davutoglu called realization of the TANAP project with Azerbaijan a strategic energy step of Turkey. He reminded that Azerbaijan increased investments in Turkey by 80%, trade turnover between the two states has grown fivefold since 2007.
20% of TANAP shares belongs to BOTAS (Turkey), 80% to SOCAR (Azerbaijan). TANAP is a priority project of the Southern Gas Corridor. A gas pipeline will be built from the eastern border of Turkey to the western to transport Azerbaijani gas from Shah Deniz to Europe. The two states signed an agreement to realize the project on June 26.
