ANKARA: The Trans-Anatolian gas pipeline project, which will carry Azeri gas across Turkey to Europe, has a capacity of around 35 billion cubic metres (bcm) and can carry 16-24 bcm annually, officials from Turkey and Azerbaijan said on Monday.
"The initial capacity of the pipeline may be 35 bcm, with the probability of increasing to 60 bcm," Azeri Energy Minister Natik Aliev said during the signing of a memorandum of understanding in Ankara.
"It's hard to make a cost estimate at this point, but the Trans-Anatolian pipeline project (TANAP) may cost around $5 billion," Turkish Energy Minister Taner Yildiz said.
Azeri state energy company SOCAR, Turkey's state pipeline company Botas and Turkey's state energy company TPAO will be the initial partners in the project and other international oil and gas companies may join the consortium during the process.
The pipeline is expected to start operating in 2017.
Last month the president of Azeri state energy company SOCAR Rovnag Abdullayev said Azerbaijan and Turkey have started work on a trans-Anatolian pipeline project to carry Azeri gas across Turkey.
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