SOCAR-Turkey: TANAP to be commissioned in 2018

TANAP is a strategic project for Turkey and Azerbaijan, head of SOCAR-Turkey Enerji A.Ş. Kenan Yavuz said, TV CNBCE reports on Saturday.

The head of the company noted that the TANAP project will be carried out within five years and the pipeline will be commissioned in 2018.

Presently, a 20-percent share in TANAP belongs to Turkish BOTAS and TPAO, while 80 percent is owned by the State Oil Company of Azerbaijan (SOCAR). SOCAR intends to retain 51 percent of the equity in the project. Turkey will keep 20 percent of the equity.