The Trans-Anatolian Natural Gas Pipeline (TANAP) is part of Southern Gas Corridor which aims to reduce EU dependency on Russian fossil gas supplies.
TANAP represents largest expansion of Southern Gas Corridor and will deliver fossil gas from Shah Deniz gas field in Azerbaijan to Europe. Only this part costed $6,5 billion and expenses for whole Southern Gas Corridor are expected to be $40 billion. TANAP will be able to provide Europe with up to 16 billion m3 fossil gas annually. Its further investment could enlarge its capacity up to 31 billion m3.
TANAP Grand opening took place last week in Turkish city Ipsala close to Greece-Turkey borders, both Turkish president Erdogan and Azerbaijani president Alijev were present at the event.
TANAP is owned by more companies. Azerbaijani State Oil Company SOLAR holds 51 % of shares, while its Turkish counterpart holds only 7 %. Turkish Petroleum Pipeline Company BOTAS holds 30 % and the remaining 12 % is owned by mining company British Petroleum.