Azerbaijan and Turkey to finance TANAP
By Messenger Staff
Monday, February 17Azerbaijan and Turkey will finance the Trans Anatolian gas pipeline (TANAP) themselves. This decision has been made because of the high strategic importance of the project. Both countries are so interested in the implementation of the project that they decided to take this step and thus avoid any kind of complications or delays for completing the project by 2018.
The State Oil Company of the Republic of Azerbaijan (SOCAR) will allot $7 billion out of the $12 billion USD, the Turkish company Botas Petroleum Pipeline Corporation will allot $3-4 billion USD, BP will allot $1-2 billion USD, which is deeply involved in the managing and exploitation of oil and gas wells, as well as the pipelines in Azerbaijan.