Azernews.Az

The fiscal and foreign policy, economic policy and reforms ensure the sustainability of Azerbaijan’s economy, the country’s Finance Minister Samir Sharifov said March 19.

He made the remarks during the presentation of bonds of the Southern Gas Corridor closed joint-stock company to the UK and US investors.

The minister briefed the investors about the Southern Gas Corridor project, Azerbaijan’s economy and the influence of lower prices on world crude markets on Azerbaijan’s economy.

He also talked about the measures taken by the government to mitigate the impact of lower prices for energy resources on the country’s economy.

The UK and US investors showed interest in the Southern Gas Corridor bonds valued at $1 billion.

The Southern Gas Corridor is one of the priority energy projects for EU. It envisages the transportation of gas from the Caspian Sea 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.