Azerbaijan may transport gas from Iran, Iraq to Europe

Tuesday, August 30, 2016 3:56 AM

Baghdad/ Iraq TradeLink:

Azerbaijan is considering the possibility to transport Iranian gas through its territory to Europe, said Azerbaijanís Deputy Energy Minister Natig Abbasov, as reported by Trend News Agency.

Abbasov made the remarks Aug. 29 at the 2016 Eurasian Conference of the International Association for Energy Economics (IAEE) in Baku.

He noted that it will be possible through Iranís joining the Trans-Anatolian Natural Gas Pipeline (TANAP) project.

Abbasov didnít also exclude possibility of transporting Iraqi gas through Azerbaijan to Europe.

TANAP project envisages transportation of gas from Azerbaijanís Shah Deniz field to the western borders of Turkey. The gas will be delivered to Turkey in 2018, and after completion of the Trans Adriatic Pipelineís construction, the gas will be delivered to Europe in early 2020.

The project's total cost is estimated at $9.8 billion. Currently, the shareholders of TANAP are: SOCAR (State Oil Company of Azerbaijan) - 58 percent, Botas - 30 percent and BP - 12 percent.

TAP project envisages transportation of gas from the Stage 2 of development of Azerbaijanís Shah Deniz gas and condensate field to the EU countries. TAP's shareholding is comprised of BP (20 percent), SOCAR (20 percent), Snam S.p.A. (20 percent), Fluxys (19 percent), EnagŠs (16 percent) and Axpo (5 percent). A ceremony marking the beginning of construction for the project was held on Tuesday, 17 May in Thessaloniki.

The 870-kilometer pipeline will be connected to the Trans Anatolian Pipeline (TANAP) on the Turkish-Greek border, run through Greece, Albania and the Adriatic Sea, before coming ashore in Italy's south.