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TANAP consortium predicts over $1 biilion revenue from gas supplies

TANAP consortium predicts over $1 biilion revenue from gas supplies

Baku, October 1 - Neftegaz.RU. Trans-Anatolian Pipeline (TANAP) is almost ready the supply natural gas from Azerbaijan to Europe, Azernews reported.TANAP Consortium expects annual revenue of $1.45 billion from the pipeline’s operation, Saltuk Duzyol, Head of the Consortium has said.

Duzyol noted that the pipeline would reach its full capacity for transporting 16 billion cu m of gas per year for 2-3 years, according to forecasts.

In his words, when operating at full capacity, TANAP will bring revenues at $1.45 billion annually, of which 30 % or $450 million will account for Turkish company BOTAS. “In addition, a tax of $5.95 per 1,000 cu m will be paid to Turkey for gas transportation via TANAP,” he said.

Duzyol stressed that since the TANAP’s commissioning in 2018 2.39 billion cu m of Azerbaijani gas were delivered through until late August 2019. “At the same time, tax deductions to the state budget of Turkey amounted to about $14.3 million.”

“We have obligations to BOTAS for the supply of 4 billion cu m from this pipeline from June 2019 to June 2020,” he pointed out.Duzyol emphasized that the TANAP gas pipeline could also be used to transport gas from the Eastern Mediterranean and Northern Iraq.

“As you know, since July 1, 2019, TANAP is in full readiness for Azerbaijani gas supplies to Europe. We look forward to the completion of the TAP to begin deliveries,” he said.

“The start of commercial gas supplies to Europe is not possible before October 2020, but we are able to supply gas now,” he added. He recalled that the actual costs of the TANAP gas pipeline construction project amounted to $6.5 billion against the initial estimate of $11.7 billion.

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