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SOCAR President: TANAP to Be ‘Largest Project of 21st Century’

According to Rovnag Abdullayev, President of the State Oil Company of Azerbaijan (SOCAR), "TANAP is to become the largest project of the 21st century."

The project is set to develop in four stages, with the first one to be completed by 2018.

The 2,000-kilometer natural gas pipeline will link the Shah Deniz 2 gas field in the Caspian Sea with Turkey's western border.

SOCAR owns 80 percent of the TANAP pipeline, and intends to spin off 29 percent of this stake to Norway's Statoil, Britain's BP and France's Total.

Turkey's BOTAS and TPAO own the other 20 percent.

Last November, the TANAP proposal was ratified by the Azerbaijani Parliament, after which President Ilham Aliyev signed it.

Source: AzerTAc

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