BP close to securing deal for TANAP pipeline

March 25 (The Conway Bulletin) — Giving a boost to the Trans-Anatolian Natural Gas Pipeline project (TANAP), BP said it was close to a deal to become one of its stakeholders (March 25).

In an interview with Reuters, Chris Schlueter, BP country manager in Georgia, said good progress on a deal had been made.
“We are very, very close,” he said.

“I think (we will sign the deal) in the next two months.”

Shares in BP rose on the news.

TANAP is seen as a vital plank of the EU’s future energy policy, diversifying away from Russia. It will carry Azerbaijani gas from the Caspian Sea, across Georgia, Turkey and the Balkans to central Europe.

Analysts have said that they consider it vital that, alongside Turkish and Azerbaijani companies, BP is a major shareholder in the project.

>>This story was first published in issue 224 of the weekly Conway Bulletin newspaper. The Conway Bulletin reports on Central Asia and the South Caucasus.

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