UK’s BP company, the operator of big energy projects in Azerbaijan, has made an application for participation in the operating company of the gas pipeline for the operation of the Trans-Anatolian Natural Gas Pipeline (TANAP).
Tougher U.S. and European sanctions against Iran might be hitting its economy, leading to fears of looming inflation and cuts in food and gas subsidies. But that doesn't mean the Islamic Republic is out of friends — far from it. Even the U.S.'s close allies in Europe have stopped short of cutting their relations with Iran, allowing it to continue its trade in oil and gas.
In 2010, Azerbaijan will produce over 28 billion cubic meters of gas, the republic will have free volume of fuel for export. Along with the traditional markets of gas sale such as Georgia and Turkey, this year Azerbaijan starts supplying gas to new markets - Russia and Iran.