Azerbaijan spent 6 billion USD to Southern Gas Corridor so far

Baku. 23 December. REPORT.AZ/ So far, 6 billion USD, about 50% of total 11.9 billion USD allocated by the "Southern Gas Corridor" CJSC to Southern Gas Corridor project in 2014-2019 has already been spent.

Report informs, "Southern Gas Corridor" CJSC Director General Afgan Isayev told in his interview to AZERTAC.

According to him, 2 bln USD of this amount was spent in 2016.

Notably, in order to ensure the second phase of the development of gas condensate field "Shah Deniz", the expansion of the South Caucasus Pipeline, and management of TANAP and TAP projects, President of Azerbaijan signed a decree February 25, 2014 on the establishment of JSC "Southern Gas Corridor" with an authorized capital of 100 mln. USD. The state share in the project is 51%, SOCAR - 49%. According to paragraph 2.1 of the order, financing of state-owned shares of CJSC entrusted to Azerbaijani Oil Fund, ownership and management to the Ministry of Economy.