The Trans-Anatolian gas pipeline (TANAP) is a proposed natural gas pipeline from Azerbaijan through Turkey to Europe. If constructed, it would transport gas from the second stage of the Shah Deniz gas field. The project was announced on 17 November 2011 at the Third Black Sea Energy and Economic Forum in Istanbul. On 26 December 2011, Turkey and Azerbaijan signed a memorandum of understanding establishing a consortium to build and operate the pipeline. In spring 2012, the process of conducting the technical-economic feasibility study was launched. On 26 June 2012, President of Azerbaijan Ilham Aliyev and Prime Minister of Turkey Recep Tayyip Erdoğan signed a binding intergovernmental agreement on the pipeline. The pipeline will run from Georgian–Turkish border to Turkish European border. The exact route of the pipeline is not clear. However, it was announced that one branch from Turkey would go to Greece and the other to Bulgaria. It would be connected with Trans Adriatic Pipeline.


The Trans Adriatic Pipeline (TAP) is a natural gas pipeline project. The pipeline will start in Greece, cross Albania and the Adriatic Sea and come ashore in southern Italy, allowing gas to flow directly from the Caspian region to European markets. TAP’s concept is supporting the European Union’s strategic goal of securing future energy supply. TAP will transport natural gas from the giant Shah Deniz II field in Azerbaijan, via Greece and Albania, and across the Adriatic Sea to Southern Italy, and further to Western Europe. TAP offers the shortest and most direct link from the Caspian region to the most attractive European markets with the most competitive gas tariff. The project is designed to expand transportation capacity from 10 to 20 bcm per year, depending on supply and demand. It  will also promote economic development and job creation along the pipeline route and it is the only pipeline in the Southern Gas Corridor not dependent on public money.

Target Market

It is the market segment to which a particular product is marketed. It is often defined by age, gender, geography, and/or socio-economic grouping. The part of the market a company or product wishes to penetrate or attract.

Tax paid

For continental European companies, this is the reported or analyst forecast tax change in the profit and loss account as the actual cash payment does not appear in the most continental European companies’ cash flow statements.


Total cost of ownership is a financial estimate designed to help consumers and enterprise managers assess direct and indirect costs commonly related to software or hardware. It is a form of full cost accounting.
TCO is sometimes referred to as total cost of operation. When incorporated in any financial benefit analysis (e.g., ROI, IRR, EVA, ROIT, RJE) TCO provides a cost basis for determining the economic value of that investment.


A small vessel which serves a larger vessel in a port for the purpose of supplying provisions and carrying passengers to and from ship to shore.

Terminal Value

The remaining value of a business project or asset after the end of the valuation period. Usually calculated as (operating cash flow in the final year) / (WACC-1%) – CapEx in the final year.


Task Force Central and South Eastern Europe Gas (TF CSEEG) is the task force that has been endorsed by the EFET Gas Committee.  The European Federation of Energy Traders (EFET) are expanding their activities in the developing European gas markets of Central and South Eastern Europe and have reformed one of their regional task forces to cover a wide range of markets from Poland to Turkey. This is known as TF CSEEG and it will  include Poland, Austria, Croatia, Slovenia, Hungary, Slovakia, Czech Republic, Romania, Bulgaria, Greece and Turkey


The full or short name of a company (e.g., “EKO ABEE” or “EKO”).


Tank Level Gauging. Calculation of the quantity of a liquid (fuel) in a tank by means of measuring the liquid surface level and using volumetric tables specific for the tank, that correlate the surface level to the contained quantity. Temperature compensation is usually used, to transform the calculated volume to standard conditions. Automatic TLG instruments are used in modern PS.

Topping Refineries

Topping Refineries are the smallest and least complex. They usually have only an atmospheric distillation tower and maybe a vacuum distillation tower. Because the refineries lack the most sophisticated refining equipment, the type of products they can produce is somewhat limited. The quality of the incoming oil effects what the refinery can produce.

Total Suspended Solids (TSS)

They include all particles suspended in water which will not pass through a filter. Suspended solids are present in sanitary wastewater and many types of industrial wastewater.


Or trade mark is a distinctive sign or indicator of some kind which is used by an individual, business organization or other legal entity to uniquely identify the source of its products and/or services to consumers, and to distinguish its products or services from those of other entities. A trademark is a type of intellectual property, and typically comprises a name, word, phrase, logo, symbol, design, image, or a combination of these elements.

Transmission system operator (TSO)

A transmission system operator (TSO) is an entity entrusted with transporting energy in the form of natural gas or electrical power on a national or regional level, using fixed infrastructure. The term is defined by the European Commission. The certification procedure for Transmission System Operators is listed in Article 10 of the Electricity and Gas Directives of 2009.

Due to the cost of establishing a transmission infrastructure, such as main power lines or gas main lines and associated connection points, a TSO is usually a natural monopoly, and as such is often subjected to regulations.

In electrical power business, a TSO is an operator that transmits electrical power from generation plants over the electrical grid to regional or local electricity distribution operators.

In natural gas business, a TSO receives gas from producers, transports it via pipeline through an area and delivers to gas distribution companies.

The United States has similar organizational categories: Independent system operator (ISO) and Regional transmission organization (RTO).

Treatment (or enhancement)

Refineries can improve the petroleum products, such as gas, heating oil, and kerosene, by treating it to remove sulfur. The treatment stage may also entail the addition of blending components to gasoline.

TTL (1)

Tank Truck Loading facility.

TTL (2)

Through The Line. Advertising strategy involving both above and below the line communications in which one form of advertising points the target to another form of advertising thereby crossing the 'line'.