Duzyol noted that when the final investment decision was made, the initial estimated cost of the project was $11.7 billion. Thus, it was possible to cut down the cost by 45 percent and reduce it to $6.5 billion.
The CEO added that less funds were spent on the acquisition of land from the population for the construction of the TANAP pipeline than it was envisaged.
TANAP CEO emphasized that the highest point (2,760 m) where the pipeline runs is Kizildag in Turkey's Erzincan province, while the deepest point (-65 m) is in the Canakkale Strait.
The initial capacity of TANAP, which is the main segment of the Southern Gas Corridor, is 16 billion cubic meters of gas. Around six billion cubic meters of this gas will be supplied to Turkey while the remaining volume - to Europe. After the completion of the Trans Adriatic Pipeline (TAP) construction, gas will be supplied to Europe in early 2020.
The share distribution of TANAP shareholders is as follows: Southern Gas Corridor CJSC - 51 percent, SOCAR Turkey Enerji - 7 percent, Botas - 30 percent, BP - 12 percent.
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