Send to Kindle
File photo
Turkey and Azerbaijan began on Tuesday the construction of the Trans-Anatolian Natural Gas Pipeline (TANAP).
Turkish President Recep Erdogan and his Azerbaijani and Georgian counterparts Ilham Aliyev and Giorgi Margvelashvili attended the inauguration ceremony in Turkey's Kars region.
The pipeline, which will measure 1850 kilometres in length, will supplly natural gas from the Shah Deniz 2 field in Azerbaijan to Turkey and the EU.
TANAP, which is estimated to cost USD 10 B and should be completed by 2018, will link the existing South Caucasus Pipeline (SCP) with the planned Trans-Adriatic Pipeline (TAP).
TANAP is part of the EU's initiative on a Southern Gas Corridor, which aims to bring supplies from the Caspian Sea and the Middle East in an effort to reduce Europe's dependency on Russian gas.
According to the partnership agreement signed last week, Azerbaijan's state-owned SOCAR and Turkish BOTAS will hold respectively 58 % and 30 % of the shares, the remaining 12 % owned by British BP.
In 2024, Bulgaria ranked near the bottom in the European Union when it comes to material well-being, placing second to last alongside Estonia
In 2024, the quality of bathing waters across the European Union remained high
Ukrainian President Volodymyr Zelensky addressed the nation on the evening of June 20, focusing on the ongoing Russian offensive in Sumy Oblast and the broader implications of recent statements by Russian officials
Russia may be heading into a recession, Economy Minister Maxim Reshetnikov admitted during the St. Petersburg International Economic Forum
Prime Minister Rosen Zhelyazkov has reaffirmed that the “Balkan Stream” pipeline remains a functional and commercially viable energy project
Russian President Vladimir Putin has expressed readiness to hold talks with Ukrainian President Volodymyr Zelensky, though he made clear he does not consider Zelensky a legitimate figure
A day after President Donald Trump authorized a high-stakes strike on Iran’s nuclear program, the United States claimed it had inflicted significant damage
Donald Trump’s decision to strike Iranian nuclear facilities marks a dramatic turning point - not only for the Middle East but for the global order, the presidency, and the long-standing shadow conflict between Washington and Tehran
The European Commission has confirmed that Bulgaria meets the inflation criterion necessary for joining the eurozone
Serbian President Aleksandar Vucic has stated that Serbia has been secretly rearming its military in recent years
Ukrainian President Volodymyr Zelensky addressed the nation on the evening of June 20, focusing on the ongoing Russian offensive in Sumy Oblast and the broader implications of recent statements by Russian officials
At a meeting in Luxembourg on June 19, the finance ministers of EU member states unanimously endorsed the Eurogroup’s recommendation for Bulgaria to adopt the euro starting January 1, 2026
Borderless Bulgaria: How Schengen Benefits Are Transforming Trade and Logistics
Bulgaria's Mortality Rate Remains Highest in Europe
