Drilling works in 570 km-part and welding works in 200 km-part of TANAP project have been completed, TANAP General Manager Saltuk Duzyol said.
“While saying TANAP, we mean a part of a large project. The Southern Gas Corridor costs $45 billion. Of this, $28 billion is directed to Shahdeniz 2. Remaining parts will be directed to the South Caucasus Pipeline Expansion (SCPX), TANAP and TAP. Currently, 55% of the project has been completed and this means we are ahead of schedule. Turkey will buy 2 billion cubic meters of gas via this project in June 2018. This volume will reach 4 bcm in 2019 and 6 bcm in 2020. Annual capacity makes up 16 bcm. Later on, this will reach 24 bcm and 31 bcm”, Duzyol said.
He noted that Turkey’s need for gas makes up 40-45 bcm per year: “However, the need is increasing. Turkey buys 52 bcm of gas per year. Together with 6 bcm of gas through TANAP, Turkey will buy 58 bcm per year. Moreover, Turkey will be able to buy additional 15 bcm of gas in the future”.
The general manager explained impact of the changes in oil price on the project: “We reduced TANAP’s value from $11.7 billion to $8.5 billion due to oil price decline”.
According to him, TANAP will create jobs for 10,000 people during 20 years.
Duzyol added that TANAP also provides support to the development of local companies: “80% of pipes are produced in six Turkish companies, 20% in China”.