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10.04.2015 16:08

Iran and others may have stake in TANAP: Turkish energy minister

Iran may buy a stake in the Trans-Anatolian Natural Gas Project (TANAP) if certain commercial conditions are fulfilled, Energy Minister Taner Yıldız said April 9.

It will be possible forIran to take a stake in the TANAP project as long as certain commercial conditions are fulfilled, Yıldız said, adding that there were other countries which also want a stake in the project, following a signing ceremony inAnkara between Turkish and Georgian authorities on energy.

But Yıldız said it was too early to say anything definite about a partnership withIran on TANAP project at the current stage.

The president of the State Oil Company of theAzerbaijan Republic (SOCAR), Rovnag Abdullayev, has been quoted by Azerbaijani local media as sayingIran was interested in purchasing a stake in TANAP. Abdullayev said SOCAR was ready to consider any offers for a part of its share in TANAP.

Iran is expected to join several energy projects in the region after international sanctions are lifted.

Iran wants the sanctions lifted on the day of implementation of its nuclear program agreement with world powers, President Hassan Rouhani said April 9, as quoted by Agence France-Presse. We will not sign any agreements unless, on the first day of the deals implementation, all economic sanctions are completely lifted that very day, Rouhani said.

SOCAR has a 58 percent stake in the TANAP project, while the Turkish state-run gas grid BOTAŞ has a 30 percent stake and British BP has a 12 percent stake.

The foundation for TANAP was laid last month in the eastern province of Kars. Azeri gas, produced in the Shah Deniz II field, will be transported via TANAP to the western border of Turkey. From there, the gas will be distributed to European countries via the Trans-Adriatic Project (TAP).

Yıldız has said Turkey will buy more gas fromIran if the required commercial conditions are met. At the joint press conference with Rouhani, Erdoğan said Turkey would buy more natural gas from the country if it were cheaper.

Turkey imports 10 billion cubic meters of Iranian gas a year, makingIran the second largest gas supplier for Turkey, after Russia.

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