Iran is likely to purchase a stake in the Trans-Anatolian Natural Gas Pipeline (TANAP), provided the country adheres to certain commercial conditions, Turkish Energy Minister Taner Yildiz said Thursday.
The foundation for the pipeline was laid in March in the Turkish city of Kars. The TANAP project, expected to be built before 2019, will transport gas from Azerbaijan's fields through Georgia and Turkey to Europe.
“Iran may acquire a stake in the TANAP project, if certain commercial conditions are observed."
Among the TANAP shareholders are the Azerbaijani oil company SOCAR (58 percent stake), the Turkish state-owned company Botas (30 percent) and British oil and gas company BP (12 percent).
Iran is expected to participate in several regional energy projects once the international sanctions against it are lifted. EU and US officials earlier said sanctions could be canceled if the country meets all the requirements, listed in the Lausanne agreement to curb Iran’s nuclear program.