Turkey to sell its shares in TANAP project

According to the Ministry of Economy and Natural Resources of Turkey, the country plans to sell a portion of its shares in the Trans-Anatolian gas pipeline (TANAP).

The Turkish share in the project is 20%. The TANAP project envisages the transportation of natural gas from the Shah Deniz well in Azerbaijan to Turkey via Georgia and then further to Europe.

Turkey is interested in increasing its share in the TANAP project, however, it also wants to privatize and sell some of its shares.

Construction of the pipeline is planned to start in the second quarter of 2014, and will presumably start functioning in 2018.

The approximate cost of the project will be from 10 to 11 billion USD.