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South Caucasus Pipeline’s capex, opex soar

Oil&Gas Materials 4 May 2023 18:41 (UTC +04:00)
South Caucasus Pipeline’s capex, opex soar
Laman Zeynalova
Laman Zeynalova
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BAKU, Azerbaijan, May 4. In the first quarter of 2023, the South Caucasus Pipeline (SCP) spent around $20 million in operating expenditure and more than $2 million in capital expenditure in total, Trend reports with reference to bp.

This is while the opex and capex on SCP in 1Q 2022 stood at $14 million and $0.3 million, respectively. As such, the in operating expenditure and capital expenditure grew by 42.86 percent and 6.6 times, respectively year-on-year.

The SCP has been operational since late 2006, transporting Shah Deniz gas to Azerbaijan, Georgia and Türkiye. The expanded section of the pipeline commenced commercial deliveries to Türkiye in June 2018 and to Europe in December 2020.

SCPC shareholders are: bp (operator – 29.99%), SGC (21.02%), LUKOIL (19.99%), TPAO (19.00%) and NICO (10.00%).

Follow the author on Twitter: @Lyaman_Zeyn

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