The board of directors of the World Bank (WB) has approved granting to Azerbaijan and Turkey of the credit of 800 million US dollars for construction of the Transanatolian gas pipeline (TANAP), Trend with reference to bank reports.
"The board of directors of bank approved on December 20 allocation to Azerbaijan of the credit of 400 million dollars. Besides, the credit for the similar sum will be obtained by Turkey. Both credits will be directed to construction of TANAP which is a part of the Southern Gas Corridor project, - it is noted in the message of bank.
CJSC "Southern Gas Corridor" (Azerbaijan) and the BOTAS company (Turkey) act as beneficiaries on the credits.
The TANAP will be laid from the Georgian-Turkish border to the western border of Turkey, and provides at an initial stage transportation of gas from the Azerbaijani field "Shah Deniz". The possibility of transportation of gas from other Caspian countries is in the long term considered.
Initial capacity of the TANAP pipeline, as expected, will make 16 billion cubic meters of gas a year. About six billion cubic meters will be delivered to Turkey, and the rest - to Europe. Gas will get to Turkey in 2018, and after completion of construction of the Transadriatic gas pipeline gas will come to Europe approximately at the beginning of 2020.
The list of shareholders of TANAP looks as follows: SOCAR - 58 percent, Botas - 30 percent, BP - 12 percent.