Southern Gas Corridor CJSC reveals planned volume of investments in projects
Baku, Azerbaijan, Oct.15
By Leman Zeynalova – Trend:
Azerbaijan’s Southern Gas Corridor CJSC expects to invest $1.1 billion in the Projects for the full year of 2018, the company told Trend.
“Southern Gas Corridor CJSC has spent 865.5 million for financing its shares in SGC projects since the beginning of 2018 up to Oct.11, 2018). In 2018, Southern Gas Corridor CJSC expects to invest $1.1 billion for the full year,” said the company.
The Southern Gas Corridor is one of the priority projects for the EU and provides for the transportation of 10 billion cubic meters of Azerbaijani gas from the Caspian region through Georgia and Turkey to Europe.
On May 29, Baku hosted the launch ceremony of the first phase of the Southern Gas Corridor project, and on June 12, the opening ceremony of TANAP pipeline was held in the Turkish province of Eskisehir with the participation of the presidents of Azerbaijan - Ilham Aliyev, Turkey - Recep Tayyip Erdogan, Ukraine - Petro Poroshenko and Serbia - Alexander Vucic.
The gas from the Azerbaijani Shah Deniz field has already gone through the first segment of the Southern Gas Corridor - from the Sangachal terminal to the expanded South Caucasus Pipeline. The next stage is the commissioning of the TANAP gas pipeline, through which gas will flow into Turkey and further to Europe.
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