No time to lose for TANAP, says head of SOCAR

Azeri Petrol Company (SOCAR) Chairman Kenan Yavuz said his firm is working quickly to finish the construction of the Trans Anatolian Natural Gas Pipeline (TANAP), saying, "There is no time to lose." Speaking to Anadolu Agency (AA), Yavuz said Prime Minister Ahmet Davutoğlu's visit to Azerbaijan strengthened ties between the two countries, adding that this visit became even more meaningful as the crisis with Russia worsens. TANAP is projected to deliver natural gas from Azerbaijan to Turkish and eventually European markets and is seen by Turkey as a key step in efforts to minimize exposure to Russian energy resources in light of the recent heightened tensions. Yavuz also underlined that Turkey has already begun making new policies and exploring alternative sources to diversify its energy supply.

Azeri Petrol Company (SOCAR) Chairman Kenan Yavuz said his firm is working quickly to finish the construction of the Trans Anatolian Natural Gas Pipeline, saying, "There is no time to lose."

Speaking to Anadolu Agency (AA), Yavuz said Prime Minister Ahmet Davutoğlu's visit to Azerbaijan strengthened ties between the two countries, adding that this visit became even more meaningful as the crisis worsens with Russia. Yavuz also underlined that Turkey has already begun making new policies and exploring alternative sources to diversify its energy supply. In line with this, Yavuz said Turkey's Petroleum Pipeline Corporation (BOTAŞ) together with the Azeri Petrol Company (SOCAR) and the multinational oil company BP signed a partnership agreement for TANAP, according to which 58 percent of the TANAP project belongs to SOCAR, while BP's share is 12 percent and BOTAŞ owns 30 percent. The importance of TANAP for energy supply security was stressed during Davutoğlu's visit to Azerbaijan as both sides pledged greater political support to ensure the project is finished as soon as possible.

Yavuz also said that TANAP's initial capacity is 16 billion meter cubes, 6 billion of which will be transported to Turkey and 10 billion of which will be transported to Europe. Furthermore, Yavuz highlighted that TANAP is a vital project in the sense that it also leads to the efficient utilization of resources. Moreover, pointing out that the gas of Turkmenistan could be integrated into the project in the future, Yavuz said "thereby, it will be more likely to reach to a 31 billion-meter cube capacity." Yavuz also underlined that the Caspian Region has become a major place on the world's energy map and TANAP is one of President Recep Tayyip Erdoğan's most important projects.