TANAP pipeline construction lot 3 completes in December

Baku. 6 November. REPORT.AZ/ Pipeline construction lot 3 of the Trans-Anatolian Gas Pipeline (TANAP) project, which will transport Azerbaijani gas to Turkey and then to Europe, will be completed on December 25.

Report informs, says the 9-month financial statement of Tekfen Holding, winner of the tender for Onshore Pipeline Construction Lot 3.

The statement says, Tekfen has received 83% total contractual amount of $ 589.9 mln. That is, $ 100.2 mln accounted for residual amount as of October 2017.

Notably, contract with "Tekfen İnşaat" was signed in late 2014. According to contract, Tekfen should complete 509 km section of TANAP within 36 months.

Tekfen's construction work on TANAP compressor and measuring stations,will be completed on May 31, 2019. Cost of the contract is $ 461,488 mln, 32.8% of which used by Tekfen in the reporting period.

Notably, in February 2016, a contract was signed with "Tekfen İnşaat ve Tesisat A.Ş.", winner of the tender for "Engineering, Procurement and Construction works regarding compressor and measuring stations", announced by "TANAP Doğalgaz İletim A.Ş.". The tender for engineering, procurement and construction of 2 compressor stations and 4 measuring stations of the 1,850 km long pipeline was announced on June 26, 2015.