BAKU. Azerbaijan, Sept.6. Gross profit of TANAP Natural Gas Transmission Company (TANAP A.Ş.) stood at $1,127,508,000 as of 2021, compared to 548,456,000 in 2020, showing 2.05 times increase, Trend reports with reference to the consolidated financial statements of the Southern Gas Corridor CJSC for the year ended 31 December 2021.
Revenues of TANAP A.Ş. amounted to $1,291,677,000 as of December 31, 2021 versus $682,239,000 in 2020. Cost of sales rose from $133,783,000 in 2020 to $164,169,000 in 2021.
Profit before income tax grew from $159,396,000 to $692,635,000.
TANAP Natural Gas Transmission Company was established to design, construct and operate the Trans Anatolian Natural Gas Pipeline (TANAP) Project, which aims at the transfer of the natural gas, produced on Shah Deniz Phase-II on the Caspian Sea and on the gas fields in the south of the Caspian Sea, Azerbaijan, first to Türkiye and then to Europe over Türkiye.
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