The main volume of financial investments in the Trans-Anatolian pipeline project (TANAP) will be covered by the project participants due to its strategic importance, news az reports.
Vice President of SOCAR-Turkey Samir Karimli has told this to Turkish newspaper Hurriyet, 1news.az reports.
"Azerbaijan and Turkey consider strategic importance of TANAP and therefore are not searching for lenders," said Karimli.
According to him, Baku considers it essential that the implementation of this project starts in 2018. "Therefore, Azerbaijan seeks to prevent any delays associated with financial flows during the implementation of TANAP," the vice president of SOCAR-Turkey underlined.
However, he did not rule out that at some stage, project TANAP may involve banks.
The publication notes that 7 out of 12 billion dollars will be allocated by the State Oil Company of Azerbaijan (SOCAR) in cash to implement the project TANAP.
At the same time, USD 3.4 billion will come from Turkish company BOTAŞ, and 1-2 billion - from the British BP.
In turn, Executive Director of BP-Turkey Bud Fakrel drew attention to the fact that the dependence of the European economy from the natural gas before 2035 will continue to grow, which will increase the importance of TANAP.
However, he did not rule out that in the future, Turkey will be able to receive more gas than by the actual agreements on TANAP.
"The capacity of the new pipeline in the first phase will be 16 billion cubic metres - 10 billion for Europe and 6 billion cubic metres for Turkey. Later, however, this ratio may change in favor of Turkey," said Fakrel.