Abdullayev noted that the works in the fourth lot will be completed by the end of this year: “We started this work a year later because of first gas to be transported by TANAP will be purchased by Turkey. The line to Europe will receive first gas in late 2019 or early 2020. As we had sufficient time, we started tender a year later. This also allowed us to get better prices. Because if the work and demand is more, the prices increase. Over 100,000 people and a lot of heavy equipments will be involved in the Turkish part of the pipeline”.
Abdullayev said that financial issue has already been solved: “58% of funds for TANAP will be paid by SOCAR. Other partners have also joined the project and will involve their funds in the project from April 1. Our experts are working to involve new financial sources. Negotiations have been conducted with BP and BOTAS. We implemented cash financing to complete the project in time. We’ll start to implement financing partly when we start the work”.
SOCAR President noted that this project stretches up to European border in the length of 1,852 km: “TANAP is the biggest international project of the SOCAR. THE project has $10 bln funds and ten thousands of workers”.
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