BAKU, Azerbaijan, Nov.4
By Leman Zeynalova - Trend:
The Southern Gas Corridor (SGC) project, which envisages transportation of Azerbaijani gas to Europe, is expected to receive $185 million worth investments from the Southern Gas Corridor closed joint-stock company (CJSC) in 2020, Ibrahim Ahmadov, deputy head of the public relations and events department at Azerbaijan’s state oil company SOCAR, told Trend.
Ahmadov noted that Southern Gas Corridor CJSC has spent around $372.6 million for financing its share in SGC projects since early 2019 and it is planned to spend around $18.8 million by the year end.
“Throughout the full period of operation, Southern Gas Corridor CJSC has invested about $9.9 billion in SGC projects using its revenues from the projects, authorized capital and borrowings,” he said.
The Southern Gas Corridor is one of the priority projects for the EU and envisages the transportation of 10 billion cubic meters of Azerbaijani gas from the Caspian region through Georgia and Turkey to Europe.
The launching ceremony of the first stage of the SGC was held in Baku on May 29, 2018, while opening ceremony of TANAP was held on June 12, 2018 in Turkey’s Eskisehir city.
The gas from the Azerbaijani Shah Deniz field has already gone through the first segment of the SGC - from the Sangachal terminal to the expanded South Caucasus Pipeline.
Trans-Adriatic Pipeline (TAP) and Trans-Anatolian Natural Gas Pipeline (TANAP) were connected on the Turkish-Greek border.
---
Follow the author on Twitter: @Lyaman_Zeyn