BAKU, Azerbaijan, Oct.8
By Leman Zeynalova – Trend:
Southern Gas Corridor closed joint-stock company of Azerbaijan has to date invested around $10 billion in the Southern Gas Corridor projects using its revenues from the projects, authorized capital and borrowed funds, Ibrahim Ahmadov, deputy head of the Public Relations and Event Management Department at Azerbaijan’s state oil company SOCAR, told Trend.
“From January 1 through September 30, 2020, the company spent about $102 million to finance its share in the Southern Gas Corridor projects,” he said.
The Southern Gas Corridor comprises the following four projects: (i) operation of Shah Deniz natural gas-condensate field ("SD1" project) and its full-field development ("SD2'" project), (ii) the operation of the South Caucasus Pipeline ("SCP" project) and its expansion ("SCPX" project), (iii) the construction of the Trans-Anatolian Natural Gas Pipeline ("TANAP" project) and (iv) the construction of the Trans Adriatic Pipeline ("TAP" project) (SD2, SCPX, TANAP and TAP collectively, the "Projects").
The Projects have an estimated investment cost of approximately $40 billion. Upon completion, the SD2 project will add a further 16 bcm of natural gas per annum to 10.9 bcma (maximum production capacity) already produced under SD1 project.
Total length of the newly constructed SCPX, TANAP and TAP pipelines will be more than 3,200 kilometres.
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