Page 71 - TURKRptJul19

8-Jul 09/16/2020 8-Jul 06/05/2024 9-Jul 10/09/2019
9-Jul 04/21/2021
9-Jul 08/06/2025 July Borrowing
July Borrowing
July Debt Service
July Debt Service
19-Aug 09/16/2020
19-Aug 06/05/2024 20-Aug 08/10/2021 20-Aug 08/18/2021 20-Aug 08/06/2025 10-Sep 08/18/2021 10-Sep 06/05/2024
17-Sep 10/07/2020 17-Sep 08/06/2025
434-day Zero Coupon (new issue)
5-year CPI-indexed semi-annual (re-open) 3-month bill (new issue)
2-year Fixed Semi-annual (benchmark) (re-open)
6-year floating semi-annual (re-open)
Domestic 19.5 External 0.0 Total 23.2
Domestic
392-day Zero Coupon (re-open)
5-year CPI-indexed semi-annual (re-open) 2-year lease certificate (direct sale)
2-year Fixed Semi-annual (benchmark) (new) 6-year floating semi-annual (re-open)
2-year Fixed Semi-annual (benchmark) (re-open) 5-year CPI-indexed semi-annual (re-open)
385-day Zero Coupon (new)
6-year floating semi-annual (re-open)
21.4 5.0
9.0 Industry & Sectors 9.1 Sector news
9.1.1 Oil & gas sector news
TANAP pipeline comes online, a major piece in Europe’s energy puzzle. The Trans Anatolian Natural Gas Pipeline (TANAP) is ready to deliver Azerbaijani gas to Europe via Turkey, creating a new alternative to Russian gas as European countries seek to diversify supplies and boost their energy security. The second phase of TANAP running to Turkey’s border with Greece was ready to start operations as of July 1. Next year, after the completion of the Trans-Adriatic Pipeline (TAP), which connects with TANAP at the Turkish- Greek border, Azerbaijan will start delivering gas to European markets from the giant offshore Shah Deniz field. Decades after the idea of building pipeline to deliver gas to Europe from the newly independent post-Soviet states of the Caspian region was first broached in the early 1990s, completion of the pipelines will finally make the Southern Gas Corridor a reality. The first phase of the route, already completed, is the South Caucasus Pipeline that carries gas from Azerbaijan via Georgia to Turkey. This links to TANAP, which in turn will link to TAP that will carry the gas on via Greece and Albania, then under the Adriatic Sea to Italy. TANAP — the central part of the chain — is the longest and widest natural gas pipeline in Turkey, Middle East and Europe, said Azerbaijan’s state oil company Socar, one of TANAP’s stakeholders, along with the Azerbaijani government, Turkey’s Botas, international oil and gas major BP and SOCAR Turkey Energy. It’s five and a half years since the final investment decision for TANAP was taken in December 2013, with construction work beginning two years later. The first phase of TANAP from the Turkish-Georgian border to Eskisehir was completed in June 2018, and the
71 TURKEY Country Report July 2019
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