The Trans Anatolian Natural Gas Pipeline's (TANAP) is 77 percent finished and is set for final completion in 2018, Azerbaijani President Ilham Aliyev said at the beginning of the week.
During the 22nd World Petroleum Congress in Istanbul, Aliyev stated that projects such as the Baku-Tblisi-Ceyhan oil pipeline, Baku-Tblisi-Erzurum natural gas pipeline and TANAP contribute to not only regional but also the global energy map.
Azerbaijan has become a producer and exporter of oil and natural gas, he added. The country will soon be able to supply neighboring countries in its region and also European countries, with its 2.6 billion cubic meters of gas reserves, he stressed.
Referring to the Southern Gas Corridor, that includes three major pipeline projects, Aliyev said that 93 percent of the Shah Deniz project, 87 percent of the South Caucasus pipeline and 44 percent of the Trans Adriatic Project (TAP) have been completed together with 77 percent of TANAP.
The corridor involves the expansion of the South Caucasus pipeline through Azerbaijan and Georgia, the construction of TANAP from Azerbaijan through Georgia and Turkey to Europe and the construction of the Trans Adriatic Pipeline (TAP) through Greece, Albania and into Italy and onto Western Europe, with the ultimate aim of bringing natural gas from the Caspian Sea to Europe.
Aliyev remarked that the whole project requires $40 billion worth of investment.
Three Balkan nations expressed their willingness to join the Southern Gas Corridor, Aliyev said, without identifying which countries showed interest.
"We are expanding the geography of that project, we can take it even further," he added