Baku, Azerbaijan, Jan.17
By Leman Zeynalova – Trend:
Azerbaijan’s Southern Gas Corridor CJSC expects to allocate about 1.3 billion on financing its shares in Southern Gas Corridor (SGC) projects in 2018, Trend learned from the company.
“In 2018, Southern Gas Corridor CJSC expects to invest $232 million in Shah Deniz project (including the existing Shah Deniz project phase 1), $144 million in SCP/SCPX (South Caucasus Pipeline Expansion) project, $728 million in Trans Anatolian Natural Gas Pipeline (TANAP) project and $182 million in Trans Adriatic Pipeline (TAP) project,” said a message from the company.
Moreover, the Southern Gas Corridor CJSC said it spent 2.3 billion on financing its shares in SGC projects in 2017.
The Southern Gas Corridor, worth $41.5 billion, is one of the priority energy projects for the EU. It envisages the transportation of gas from the Caspian region to the European countries through Georgia and Turkey.
At the initial stage, the gas to be produced as part of the Stage 2 of development of Azerbaijan's Shah Deniz field is considered as the main source for the Southern Gas Corridor projects. Other sources can also connect to this project at a later stage.
As part of the Stage 2 of the Shah Deniz development, the gas will be exported to Turkey and European markets by expanding the South Caucasus Pipeline and the construction of Trans Anatolian Natural Gas Pipeline and Trans Adriatic Pipeline.
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