SOCAR Turkey Enerji to acquire a stake in TANAP project by the end of 2017 – Turkey, 13 October 2017

CEO of SOCAR Turkey Enerji, Turkish subsidiary of the State Oil Company of Azerbaijan, Zaur Gahramanov said that the company plans to complete the acquisition of 7 % stake in Trans-Anatolian gas pipeline project (TANAP) by the end of 2017.
Gahramanov said that the deal faced delays due to legal procedures and explained that the it is currently being agreed upon at the state level, and afterwards, the deal will be agreed upon at the shareholders’ level, adding that it is necessary to notify the creditors of the project. Therefore, the consent of more than 20 institutions is needed for the completion of the acquisition. Once the deal is completed, SOCAR Turkey Enerji will receive a 7 % stake in the TANAP consortium.

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