Turkey to privatise a portion of its TANAP stake

The Turkish Energy and Natural Resources Ministry has announced that Turkey is intending to put a share of its 20% stake in the Trans-Anatolian pipeline (TANAP) project up for privatisation.

"The issue of partial privatisation of Turkey's share in TANAP has already been submitted to the Turkish Cabinet of Ministers," said a Ministry official in an interview with local press. "The issue is expected to be clarified in the coming weeks." The size of the share up for privatisation has yet to be confirmed. Currently, Turkey (Botas) possesses a 20% stake in the TANAP project and Azerbaijan (SOCAR) has an 80% share. Following BP’s acquisition of a stake in the pipeline, shares in the TANAP project will be: 68% SOCAR, 20% Botas and 12% BP.

The Turkish Minister of Energy and Natural Resources, Taner Yildiz, stated that the pipeline will run through 21 Turkish cities and contribute towards the economic development of these regions. Preparations for preliminary construction work on the pipeline will begin in 2015.

The Trans-Anatolian pipeline will be connected to the Trans Adriatic Pipeline (TAP) and will transport gas from the Shah Deniz field in Azerbaijan to the Turkish-Greek border via eastern Turkey. The initial capacity of the pipeline is anticipated to be around 16 billion m³/y of gas, which could potentially be expanded to around 31 billion m³/y in the future.

Edited from various sources by Rosalie Starling

Read the article online at: https://www.worldpipelines.com/business-news/28022014/turkey_to_privatise_a_portion_of_its_stakes_in_tanap_118/