$ 4 bln spent on South Caucasus Pipeline Expansion project

Baku. 4 April. REPORT.AZ/ As of late February 2018, totally $ 4 billion has been spent on South Caucasus Pipeline Expansion (SCPX) project.

Report was informed in the “South Gas Corridor” CJSC.

Total cost of SCPX project is $ 4.7 billion.

It was noted that up to now $ 970 mln spent on financing of Azerbaijan's share in the project (including the existing South Caucasus Pipeline project).

Notably, the South Caucasus Pipeline (SCP) was built to transport Azerbaijani gas produced in the first stage of the "Shah Deniz" field to Georgia and Turkey. The pipeline originates from the Sangachal terminal, near Baku. From the date of commissioning at the end of 2006, it deliveries "Shah Deniz Stage 1" gas to Azerbaijan and Georgia, from July 2007 to Turkey.

The SCP's expansion is part of the Shah Deniz field's full-scale development project. The expansion covers putting of a new pipeline in the territory of Azerbaijan and construction of two new compressor stations in Georgia. At the border of Georgia and Turkey, the pipeline will connect the Trans-Anatolian Pipeline (TANAP) to Turkey and Europe. With the SCPX, gas transportation will be carried out in mid-2018.

SCP project shareholders are: BP (28.8%), AzSCP (10%), SGC Midstream (6.7%), Petronas (15.5%), Lukoil (10%), NICO (10%) and TPAO (19%).