24 September 2017 12:16 (UTC+04:00)
Up to 15 September 2017, Azerbaijan’s Southern Gas Corridor CJSC has invested $7.6 billion or 62 percent of the total of $12.3 billion (total funding needs in 2014-2020) required for the financing of its participating interests in the Projects, a source in the Southern Gas Corridor CJSC told Trend.
“Above all, we would like to emphasize that total capital expenditures expected to be made at company (SGC CJSC) level, as well as at the level of the Projects (total costs), declined,” added the source.
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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