Minister: Azerbaijan supplies natural gas to Turkey at most affordable prices

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Azerbaijan supplies natural gas to Turkey at the most affordable prices, Turkish Minister of Energy and Natural Resources Berat Albayrak said in an interview with CNN Turk TV channel.

“The prices for gas supplied via the Trans-Anatolian Natural Gas Pipeline (TANAP) will also be affordable,” the minister said.

Albayrak stressed that TANAP gas pipeline has no alternative and is an important energy project.

Azerbaijan’s President Ilham Aliyev, Turkey’s President Recep Tayyip Erdogan, Ukraine’s President Petro Poroshenko and Serbia’s President Aleksandar Vucic attended the inauguration ceremony of TANAP project in the city of Eskisehir, Turkey on June 12.

The launching ceremony of the first stage of the Southern Gas Corridor project was held in Baku on May 29.

The gas from Azerbaijan’s Shah Deniz field has already gone through the first segment of the Southern Gas Corridor – from the Sangachal terminal to the expanded South Caucasus Pipeline.

TANAP together with Trans-Adriatic Pipeline (TAP) is a part of the Southern Gas Corridor, which envisages the transportation of gas from Shah Deniz field to Europe.

The initial capacity of TANAP is expected to be 16 billion cubic meters of gas per year. About six billion cubic meters will be supplied to Turkey, and the rest to Europe. After completion of the TAP, the gas will reach Europe in early 2020.

The share distribution in TANAP is as follows: Southern Gas Corridor CJSC – 51 percent, SOCAR Turkey Enerji – 7 percent, Botas – 30 percent, and BP – 12 percent.