BP is now a shareholder in TANAP

BP has completed the accession process, and has officially become a shareholder in the Trans Anatolian Natural Gas Pipeline (TANAP), a key component of the Southern Gas Corridor

The purchase of 12% of TANAP from the Southern Gas Corridor company was completed in mid - April, and the first General Assembly meeting was held in Ankara on 16 April 2015. In the General Assembly, the first Board members were elected, and the first official board meeting was held on the same day, with participation from SGC, BOTAS  and BP as shareholders.

The official groundbreaking ceremony for TANAP took place in Kars several weeks ago, with the participation of the Presidents of Turkey, Azerbaijan, and Georgia, and many high-level attendees including  BP Group CEO Bob Dudley. With last week’s developments, the final commercial link in the Southern Corridor Gas Value chain is complete – and BP is now placed in every link of this chain. 

Bud Fackrell,  President of BP Turkey thanked  all BP Turkey employees for their role in bringing this project to reality: “I would like to extend my sincere thanks to all our colleagues who have worked hard over the last few years, to make our accession to TANAP and the completion of this process a great success.”

TANAP is a critical part of the Southern Gas Corridor project, which will transport Caspian gas supplies from the Shah Deniz Gas field to European markets for the first time in history. TANAP will transport 16 bcma of Shah Deniz gas of which 6 bcma will be sold to Turkey and 10 bcma will be available for onward transmission to the European markets. The TANAP project, along with the South Caucasus Pipeline (SCP) and the Trans-Adriatic Pipeline (TAP) form the elements of the Southern Gas Corridor