Magsud Mammad, the TANAP external relations director, reportedly told Reuters that talks with BP, which said in 2013 it wanted a 12 per cent stake in the project, were ongoing.
“The agreement is still pending,” said Mr Mammad. “It is all about technical problems, which should be resolved soon. We have certain technical differences but I don’t think there’s going to be a pull out by BP,” he is reported as saying.
Azeri firm SOCAR holds a 58 per cent stake in TANAP, while Turkish pipeline firm Botas raised its stake to 30 per cent from 20 per cent in 2014.
TANAP is predicted to carry 16 Bcm of gas a year from Azerbaijan’s Shah Deniz II field in the Caspian Sea, one of the world’s largest gas fields, which is being developed by a BP-led consortium.
The pipeline will run from the Turkish-Georgian border to Turkey’s border with Bulgaria and Greece. The preliminary cost of the pipeline has been estimated at $US10-11 billion.
Construction is expected to start in April, and to be completed by the end of 2018 in order to start deliveries of gas from Shah Deniz II to Europe in 2019.
TANAP will connect with the 870 km long Trans-Adriatic Pipeline, which will transport natural gas from the Shah Deniz II field to Europe.