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Turkey and Azerbaijan to ink gas pipeline deal in April
Feb 13, 2012, 16:00 GMT
Istanbul - Turkey and Azerbaijan will sign binding agreements for the development of a joint gas pipeline in April, the head of the Azeri state oil company, Rovnag Abdullayev, told dpa on Monday.
The Trans-Anatolian Pipeline (TANAP) pipeline is to carry up to 16 billion cubic metres a year of gas from Azerbaijan's Shah Deniz gas field to Turkey.
The project is in direct competition with the European Union-backed Nabucco pipeline project.
'Once we have signed the formal agreements we can begin negotiations with other companies to join the TANAP consortium,' Abdullayev said.
Socar is looking to join forces with companies, such as BP, Total and Statoil that own shares in the Shah Deniz gas field, he explained.
It also plans to negotiate with the developers of four pipeline projects which could carry the Azeri gas from Turkey to markets across Europe.
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