Saltuk Düzyol: New finance deal for TANAP expected to be signed by year end

Baku. 10 October. REPORT.AZ/ Financing agreement for the Trans-Anatolian Natural Gas Pipeline (TANAP) project is expected to be signed by the end of the year or the first quarter next year.

Report informs, TANAP General Manager Saltuk Düzyol said addressing the XXIII World Energy Congress in Istanbul.

S.Düzyol stated that currently BOTAŞ and the Southern Gas Corridor (SGC) holding talks on the financing agreement with the World Bank, the European Investment Bank (EIB) and the Asian Infrastructure Investment Bank (AIIB).

According to the information, TANAP Project should be finalized in June 2018. S.Düzyol said that the project was based on an estimated cost of $11.7 billion. However, a nearly 25-percent cost advantage was achieved due to the recent processes in global economy: "TANAP can be considered a much more efficient project than the Trans-Adriatic Pipeline (TAP) and the South Caucasus Pipeline Expansion (SCPX), which are other constituents of the SGC".

According to TANAP official, it would be possible to receive natural gas from Azerbaijan, Turkmenistan at this point and deliver it to Turkish and European markets: "It will be possible to carry Near East countries (Iraqi, Qatari, Syrian and Levantine) natural gas, too".