Azerbaijan invests nearly $800M in SGC project
By Trend
Azerbaijan has invested $799.3 million in the Southern Gas Corridor project since early 2017, Director general of the Southern Gas Corridor CJSC Afghan Isayev said.
He noted that $6.6 billion, or around 53 percent of $12.4 billion worth funds required for the implementation of the project in 2014-2019, has already been spent.
Moreover, Isayev informed that 92 percent of work on the Shah Deniz 2 project, 83.8 percent of the South Caucasus Pipeline Expansion project, 69 percent of Trans Anatolian Natural Gas Pipeline (TANAP) and 40.3 percent of Trans Adriatic Pipeline (TAP) is complete.
The Southern Gas Corridor is one of the priority energy projects for the EU. It envisages the transportation of gas from the Caspian region to the European countries through Georgia and Turkey.
At the initial stage, the gas to be produced as part of the Stage 2 of development of Azerbaijan's Shah Deniz field is considered as the main source for the Southern Gas Corridor projects. Other sources can also connect to this project at a later stage.
As part of the Stage 2 of the Shah Deniz development, the gas will be exported to Turkey and European markets by expanding the South Caucasus Pipeline and the construction of Trans Anatolian Natural Gas Pipeline and Trans Adriatic Pipeline.
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