June 27, 2012 - 10:55 AMT
Turkey, Azerbaijan sign $7b gas pipeline deal

Turkey and Azerbaijan signed a deal to build a $7 billion Trans-Anatolian natural gas pipeline (TANAP) to carry Azeri gas to European markets, Hurriyet Daily News reported.

“We firmly support the southern natural gas corridor projects that envisage transferring natural gas from the Caspian basin and Central Asia to Europe via alternative routes, in order to provide our own energy supply security and to contribute to the energy supply security of Europe,” Turkish Prime Minister Recep Tayyip Erdoğan said.

He had previously said the project would pump gas not only from the Shah Deniz field, but also from other resources owned by Baku in the Caspian. “It will also be possible for Turkmenistan to ship gas to this project,” he added.