Turkey, Azerbaijan signed agreement to build gas pipeline.

By bne IntelliNews December 27, 2011
The government of Turkey and Azerbaijan signed a memorandum of understanding in order to build a pipeline, namely Trans Anadolu Natural Gas Pipeline, with the aim of carrying natural gas from the Shah Deniz field to Europe through Anatolia. Energy Minister of Turkey, Taner Yildiz, commented that the new pipeline may be linked with other pipelines such as Nabucco in which Turkey control a 16% stake. Trans Anadolu is planned to cost EUR 7bn, will have an annual capacity of 16bn m3, will cross 2,000 km and is planned to be completed in 2017, Bloomberg reported. State Oil Company of Azerbaijan Republic will control an 80% stake in Trans Anadolu and the Turkish government will control the remaining 20% stake through its companies, pipeline operator Botas and oil firm TPAO, Yildiz informed. On a related note Yildiz also informed that representatives from Botas and Russian Gazprom would hold a meeting yesterday (Dec 26) regarding the 6bn m3 of gas contract expiring on Jan 1 2012. On a separate note, news agency Anadolu reported that Exxon Mobile Corp. and TPAO terminated exploration works for oil and natural gas in the Black Sea.

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