Iran may join the TANAP project

Almaty. January 20. Silkroadnews - After the lifting of sanctions Tehran may join to such major regional projects as TANAP, reports Trend.
“We will participate in all the projects that could be useful to the country”, said the Iranian Ambassador to Azerbaijan Mohsen Pakayin in Baku.
According to him, Iran is also planning to join the World Trade Organization (WTO).
He believes that Iran may use the investments of Azerbaijan to implement transit projects.
“Jointly with Azerbaijan we can invest in the oil sphere. Iran is ready to take advantage of investment in the construction sector by Azerbaijan”, M.Pakayin said.
TANAP envisages transporting gas from Azerbaijan’s Shah Deniz field at the Georgian-Turkish border to the western border of Turkey. The total project cost is estimated as $10 billion.
The initial capacity of TANAP pipeline is expected to reach 16 billion cubic meters of gas per year. About 6 billion cubic meters will be delivered to Turkey, and the rest - to Europe.
Turkey will start to receive gas as of 2018, after the completion of the Trans Adriatic Pipeline (TAP) gas will go to Europe at the beginning of 2020.
TANAP shareholders are as follows: the state company SOCAR - 58%, Botas - 30%, BP - 12%.
On January 16 sanctions against Iran were lifted according to the terms of the Joint Comprehensive Plan of Action (JCPOA, or the nuclear deal) between Iran and the 5+1 group (the US, Britain, France, Russia, China and Germany).