Global oil companies buy share in Trans-Anatolian gas pipeline

Istanbul, 10 November 2012 – BP, Total and Statoil have reached agreement with the Azeri state oil company SOCAR to buy a 29% stake in the Trans-Anatolian gas pipeline which will bring gas throughTurkey to European markets. With a 51 percent stake in the pipeline SOCAR remains the main backer of the 2,000 km pipeline with TPAO and BOTAS, Turkish state owned oil exploration and distribution companies, owning 20 percent. Construction is due start in 2013 on the 7 billion USD pipeline with gas expected to flow in 2018. Source: Invest inTurkey