Ankara and Baku have officially inked a deal to transport 16 billion cubic meters of Caspian gas annually to Turkey. The $5 billion pipeline project aims at both providing gas to Turkey and selling a noteworthy amount to Europe.

The landmark natural gas project deal between Turkey and Azerbaijan threatens Nabucco’s future, the lingering plan to carry the Caspian resources to energy-hungry Europe, according to many sector professionals, Hurriyet Daily News reported.

Trans Anatolia envisages sale of Azerbaijani natural gas in Turkey as well as in Europe via Turkey.