GAS SECTOR DEVELOPMENT PROJECT

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The Gas Sector Development Project objective is to increase the reliability and stability of gas supply in Turkey by implementing critically needed gas storage and network infrastructure, and support Turkish Pipeline Company (BOTAS) in strengthening its operations as a financially stable and commercially managed corporation. Project component: Component 1) the gas storage facility will be in an underground salt formation located close to Tuz Golu, a salt lake in South Central Turkey. The facility will have 12 caverns which will be solution-mined in phases of four caverns each. The facility, upon completion, will have a storage capacity of about 960 million cubic meters of working gas and 460 million cubic meters of cushion gas. Component 2) the project will also finance two compressor stations for BOTAS at Erzincan and Corum and other network infrastructure. These stations are required to help transmit the increasing volumes of gas expected to be imported into Turkey from existing and new sources. The Corum station will have a capacity of 30 MW and is required in order to enable increased supply from Russia, while the Erzincan station will have 39 MW of compression capacity and will enable the import of natural gas from Azerbaijan.