Caspian Sea

Turkish President Recep Tayyip Erdoğan, Azeri President Ilham Aliyev and Georgian President Giorgi Margvelashvili will inaugurate the Trans Anatolian Natural Gas Pipeline (TANAP) project on June 12 in central Turkey, Ankara announced on June 10.

Today, the Southern Gas Corridor, which will transport Azerbaijani gas to Europe, was officially opened, bTV reported.
It is expected that the Caspian blue fuel will reach Bulgaria after 2 years.

Azerbaijan inaugurated on May 29 a pipeline that will eventually create the first direct route to transport gas from one of the world's largest fields to Europe bypassing Russia.

SOCAR Turkey, an affiliate of Azerbaijan's state oil company SOCAR, will launch the Star refinery with a $6.3 billion investment in İzmir in October, the general manager of the refinery said on May 21.

The Trans-Anatolian Natural Gas Pipeline (TANAP) project will enter into service as of June 12, Energy and Natural Resources Minister Berat Albayrak said on May 11.

The European Investment Bank approved 932 million euros ($1.15 billion) in financing on March 15 for the Trans-Anatolian Natural Gas Pipeline (TANAP), the largest part of a $40 billion project to bring new gas supplies to Europe.

The foreign ministers of Turkey, Azerbaijan, Georgia and Iran signed an agreement on projects to create a transportation and transit corridor between the Indian Ocean and Europe in Baku on March 15.

The first new oil refinery to be built in Turkey in 30 years will start up in the third quarter of 2018, the builder and operator Azeri state energy firm SOCAR said on Feb. 22.

The European Bank for Reconstruction and Development plans to allocate loans worth up to 1.2 billion euros for the Trans-Adriatic Pipeline (TAP) this year, part of a $40 billion project to bring new gas supplies to Europe, an EBRD official said.

More than 50 percent of the construction pipeline that will supply Turkey with Russian natural gas under the Turkish Stream project has been completed.