BP buys 12% stake in Trans-Anatolian Pipeline

BP has agreed to buy a 12% stake in the consortium responsible for construction of the Trans Anatolian Pipeline (TANAP) the Turkish TV channel TRT Haber is reporting. On completion TANAP will deliver gas from Azerbaijan’s Shah Deniz field in the Caspian Sea to Turkey where it will connect to the Trans Adriatic Pipeline that will then push on into Western Europe. Around 10bn m³ of its initial 16bn m³ will be destined for Europe with the remainder going to Turkey itself. The Turkish  section of the $11bn project is due to be up and running by 2018, and  TAP by 2020.

Source: TREND