The Trans-Anatolian natural-gas pipeline project, which has supplanted the European Union-backed Nabucco proposal as the leading contender to carry Caspian gas to Europe will likely be endorsed by the Turkish and Azeri governments as soon as next week, Turkey's Energy Minister Taner Yildiz said Friday.
The Trans-Anatolian natural-gas pipeline project, which has supplanted
the European Union-backed Nabucco proposal as the leading contender to carry
Caspian gas to Europe will likely be endorsed by the Turkish and Azeri
governments as soon as next week, Turkey's Energy Minister Taner Yildiz said
Friday.
"We are very close to signing an agreement with
Azerbaijan
on
TANAP," said Mr. Yildiz, adding that an accord would represent a
"serious resolution for the EU countries" that would aid them in
securing cheaper, plentiful energy supplies.
A deal would "most probably" come next week, said Mr. Yildiz. "The
agenda of the leaders will affect when it is signed," he said.
TANAP, a proposal by
Azerbaijan
's
state-controlled oil company Socar and its Turkish peer, Botas, to build a
pipeline to carry gas across
Turkey
,
effectively would make a portion of Nabucco's original project redundant.
Because TANAP is a cheaper and more scaleable option, requiring less than the
31 billion meters of gas a year needed by Nabucco, it has found growing favor
with the partners in the BP PLC (BP)-led Shah Deniz project that will produce
the gas to be exported.
A final decision on which pipeline to use will come next year.
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