Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Turkey to Sign Agreement for Azerbaijan Gas Pipeline Tomorrow

Dec. 25 (Bloomberg) -- Turkey and Azerbaijan will sign a memorandum of understanding tomorrow, establishing a consortium that will build a pipeline to ship natural gas from the BP Plc-operated Shah Deniz field to Europe via Anatolia.

State Oil Co. of Azerbaijan, or Socar, Turkey’s state-owned pipeline operator Botas Boru Hatlari Ile Petrol Tasima AS and oil firm Turkiye Petrolleri AO will be the founding members of the organization, which may add more international oil and gas companies going forward, the Turkish Energy Ministry said today in an e-mailed statement.

The Trans-Anatolia pipeline is planned to be completed by 2017, when the second phase of Shah Deniz starts producing gas, Turkish Energy Minister Taner Yildiz said on Nov. 18. It’s too early to provide a cost for the project, he said when asked about Socar’s estimate of as much as $6 billion, according to state-run Anatolia news agency.

Yildiz and Natig Aliyev, Azerbaijan’s energy minister, will sign the agreement, according to today’s statement. The pipeline may be linked with Nabucco, the OMV AG-led project designed to bring Caspian-region natural gas to the European Union, Yildiz said last month.

To contact the reporter on this story: Emre Peker in Ankara at epeker2@bloomberg.net

To contact the editor responsible for this story: Louis Meixler at lmeixler@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.