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Turkey, Azerbaijan Agree on 7 Billion Euro Gas Pipeline Plan

Dec. 26 (Bloomberg) -- Turkey and Azerbaijan signed an agreement to build a pipeline to carry natural gas to Europe from the Caspian region at a cost of about 7 billion euros ($9.2 billion).

The Trans-Anatolia pipeline will have a capacity of 16 billion cubic meters a year and cross 2,000 kilometers (1,240 miles), according to documents distributed before the signing ceremony in Ankara today. The first delivery of gas is planned for 2017.

State Oil Co. of Azerbaijan will work with Turkey’s state-owned pipeline operator Botas Boru Hatlari Ile Petrol Tasima AS and oil firm Turkiye Petrolleri AO to build the link. Socar, as the Azeri company is known, will hold 80 percent of the venture, Turkish Energy Minister Taner Yildiz said at the ceremony.

The pipeline may be linked with Nabucco, the OMV AG-led project designed to bring Caspian gas to Europe, Yildiz said last month. Azerbaijan will decide within a month on requests from European countries for gas from the Shah Deniz II project to be shipped through Nabucco, Azerbaijan Energy Minister Natig Aliyev said in Ankara today.

Azerbaijan can also supply Nabucco from other gas fields, Aliyev said.

Turkey plans to draw gas from the Trans-Anatolia project, supplying cities in the west of the country, Yildiz said.

To contact the reporter on this story: Ali Berat Meric in Ankara at americ@bloomberg.net

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

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