U.K oil and gas company BP BLC (BP), together with France's Total SA (TOT) and Norway's Statoil ASA (STO) will acquire a combined 29% share in the Trans-Anatolian natural-gas pipeline project, or TANAP, from Azerbaijan's state energy company SOCAR, the SOCAR president said Wednesday.

"BP and Statoil intend to acquire 12% each in the project, while Total will take 5%," Rovnag Abdullayev told reporters.

The TANAP pipeline will bring gas from Azerbaijan to Turkey and Europe , and have an initial capacity of 16 billion cubic meters.

SOCAR has said construction work on the project will start in 2013 and be completed by 2018.

SOCAR has an 80% stake in TANAP; the rest is owned by Turkey 's state-owned companies: Botas and TPAO.

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