TANAP, Shah Deniz 2 to give impetus to Azerbaijan`s economic growth in 2018

Fri 24 November 2017 20:39 GMT | 00:39 Local Time

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The implementation of gas infrastructure projects TANAP and Shah Deniz 2 is expected to provide impetus to growth of Azerbaijan`s economy from 2018, according to the Transition Report of the European Bank for Reconstruction and Development (EBRD).

EBRD expects the country`s GDP to increase by 2 percent in 2018, AzerTag reports.

EBRD has been cooperating with Azerbaijan since 1992. During this period, the bank has invested around $2.8 billion in the country`s economy.

TANAP project envisages transportation of gas from Azerbaijan`s Shah Deniz field to the western borders of Turkey. The gas will be delivered to Turkey in 2018 and after completion of the Trans Adriatic Pipeline`s construction natural gas will be delivered to Europe in early 2020.

The length of TANAP is 1,850 kilometers, with an initial capacity of 16 billion cubic meters of gas. Around six billion cubic meters of this gas is meant to be delivered to Turkey, with the remaining volume to be supplied to Europe.

News.Az

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