Azerbaijan and Turkey plan to sign the deal on the Trans-Adriatic Gas Pipeline (TANAP) in Istanbul on June 26, Trend reports on Thursday.
The two states signed a memorandum of understanding to build a consortium for the construction of a pipeline to transport gas from the Shah Deniz Field to Europe through Turkey. 20% of TANAP 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. About 6 billion cubic meters will be provided for Turkey, the rest for Europe. Some experts believe that TANAP may be connected to Nabucco West to transport gas to the Turkish-Bulgarian border.
