BAKU, Azerbaijan, September 13. Turkish Competition Authority has approved the establishment of a joint venture between BOTAŞ and SOCAR Türkiye, Trend reports via Turkish media.
No other details related to the joint venture are available.
One of the important projects implemented jointly by the two companies is the Ighdir-Nakhchivan gas pipeline. Nakhchivan currently receives gas mainly through Iran. The supply of Azerbaijani gas through Turkey will help Nakhchivan meet its gas demand.
It is planned to invest 100 million Turkish liras in Ighdir-Nakhchivan gas pipeline in 2022. The rest of the total 185 million Turkish liras will be allocated in 2023.
The daily capacity of the pipeline is 1.5 million cubic meters.