BAKU, Azerbaijan, Feb.10
By Leman Zeynalova – Trend:
In 2021, the South Caucasus Pipeline (SCP) spent around $54 million in operating expenditure and more than $12 million in capital expenditure in total, Trend reports wit reference to bp.
In 2020, SCP spent $47 million in operating expenditure and $13 million in capital expenditure in total. As such, the operating expenditures rose by 14.89 percent, while capital expenditure dropped by 7.69 percent year-on-year.
The SCP has been operational since late 2006, transporting Shah Deniz gas to Azerbaijan, Georgia and Turkey. The expanded section of the pipeline commenced commercial deliveries to Turkey in June 2018 and to Europe in December 2020.
On 1 August 2021, the transition of the technical operatorship of the South Caucasus Pipeline Company (SCPC) from BP Exploration (Shah Deniz) Limited to SOCAR Midstream Operations LLC was finalized. The transition process which started in March 2020 was successfully completed in July 2021. Despite the challenges caused by COVID-19, bp and SOCAR worked in close collaboration to effectively implement all the aspects of the process.
The transfer of the technical operatorship was carried out in fulfilment of the obligations undertaken in the revised SCPC Pipeline Owners’ Agreement, signed in December 2013 as part of the Final Investment Decision on the Shah Deniz Stage 2 and South Caucasus Pipeline Expansion (SCPX) projects.
The SCP Co. shareholders are: bp (28.83%), TPAO (19.0%), PETRONAS (15.5%), AzSCP (10.0%), NICO (10.0%), LUKOIL (10.0%) and SGC Midstream (6.67%).
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