Azerbaijan discloses amount of payments to State Oil Fund by international partners
As part of the new agreement on the block of Azeri-Chirag-Gunashli fields, the international partners transferred the second bonus payment worth $450 million to the State Oil Fund of Azerbaijan (SOFAZ), local media reported referring to a report on the activity of the Azerbaijani Cabinet of Ministers in 2019.
In accordance with the report, the Trans-Anatolian Natural Gas Pipeline (TANAP), which is an important part of the Southern Gas Corridor project, increased the average daily gas supply from the Shah Deniz field to Turkey by 11 million cubic meters. Some 3.8 billion cubic meters of gas were transported through this important pipeline in 2018-2019.
The opening ceremony of the second part of TANAP was held on November 30, 2019. The construction of the Trans-Adriatic Pipeline - TAP is underway. The project has been fulfilled by more than 90 percent and its commissioning is scheduled for 2020.
In accordance with the report, after the implementation of the project, for the first time in the history, Azerbaijan’s natural gas will be transported to the European markets through the Caspian Sea basin via the South Caucasus, TANAP and TAP pipelines. Azerbaijan will receive the status of a new gas supplier in Europe.
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