Bloomberg News

Turkey Seeks to Raise Stake in Tanap Gas Pipeline, Reuters Says

March 29, 2012

Turkey may raise its 20 percent stake in the planned Trans-Anatolia Pipeline project, or Tanap, Reuters reported, citing Metin Kilci, undersecretary of the Turkish Ministry of Energy and Natural Resources.

Turkey and Azerbaijan, which holds 80 percent of Tanap, may sign an intergovernmental agreement on the project by the end of April, Kilci said, according to the news service. The pipeline would carry natural gas from the BP Plc-led Shah Deniz field in the Caspian Sea via Turkey to Europe.

State Oil Co. of Azerbaijan hasn’t received an offer from Turkey to increase its stake in the project, Elshad Nassirov, vice president of the Baku-based company, said by e-mail.

To contact the reporter on this story: Zulfugar Agayev in Baku at zagayev@bloomberg.net

To contact the editor responsible for this story: Hellmuth Tromm at htromm@bloomberg.net


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