Trans Adriatic Pipeline

The Trans Adriatic Pipeline (TAP), which aims to pump Azeri gas to Europe by 2020, will cost 4.5 billion euros in total, the project chief has stated. 

The Trans-Anatolian Natural Gas Pipeline (TANAP) project, set to carry Azeri gas to Europe, is now ahead of schedule, Turkey's ambassador to Azerbaijan said on Jan. 24. 

"The TANAP will be completed before the projected time and will start working," Erkan Özoral told state-run Anadolu Agency.

European Commissioner for Climate Action and Energy Miguel Arias Cañete is in Athens where he is holding negotiations with the Greek government on key energy projects.

The interconnector Greece - Bulgaria is among these projects.

The World Bank's board of directors approved loans of $400 million each for Turkey and Azerbaijan late on Dec. 20 for the Trans-Anatolian Natural Gas Pipeline (TANAP) project. 

Albania's Energy Ministry and the Trans Adriatic Pipeline have amended their agreement to give more financial support and assistance to Albania.

In a statement Wednesday, they said that following seven months of negotiations they agreed on reviewing payments paid, on increasing investments in communities and on training the local gas sector.

The World Bank gas granted a total of USD 800 M in loans to Turkey and Azerbaijan for the Trans-Anatolian Natural Gas Pipeline (TANAP), Anadolu Agency reports.

The 1850-km pipe is part of the Southern Gas Corridor (SGC), aimed at pumping Azerbaijan's gas into Turkey and further on to Europe.

The lender has granted USD 400 M to Turkey and the same amount to Azerbaijan.

A few hours after the breakdown in talks between Athens and Azeri state company Socar concerning the acquisition of a 66 percent stake in DESFA by the latter, it became known that Greece's gas grid operator has attracted the interest of its Romanian peer Transgaz, while the interest of Belgian operator Fluxys remains unchanged. This creates expectations for a successful new tender.

Fifty-five percent of The Trans-Anatolian Pipeline (TANAP) will have been constructed by the end of the year, Turkey's Energy Minister Berat Albayrak

Daily Sabah quotes him as saying that Turkey is successfully moving toward the creation of an energy hub and successfully pursuing a policy of energy diversification.

BP has never had a plan to exit the Turkish market, a top company official has said on the sidelines of the World Energy Congress in Istanbul, refuting earlier reports.  

"We have never had a plan about exiting Turkey. Conversely, we plan to grow more in this market," BP's Downstream CEO Tufan Erginbilgiç told reporters on Oct. 12. 

Progress on the Trans Anatolian Natural Gas Pipeline (TANAP) project is on track, TANAP General Manager Saltuk Düzyol said at the World Energy Congress in Istanbul on Oct. 11, adding it was a key part of the regional natural gas supply chain.