Expenses of South Caucasus Pipeline shrinks in Q12024

The South Caucasus Pipeline (SCP) Co. spent around $17.3 million in operating expenditure and about $1.2 million in capital expenditure in total, in the first quarter of 2024, Report informs via BP-Azerbaijan.

Compared to the corresponding period of 2023, the operating expenditures dropped by $2.7 million or 13.5%, and capital expenditure fell by $0.8 million or 40%.

During the first quarter, the daily average export throughput of the SCP was 61.7 million cubic meters of gas per day.

The SCP has been operational since late 2006, transporting Shah Deniz gas to Azerbaijan, Georgia and Türkiye. The expanded section of the pipeline commenced commercial deliveries to Türkiye in June 2018 and to Europe in December 2020.

SCPC shareholders are: bp (operator – 29.99%), SGC (21.02%), LUKOIL (19.99%), TPAO (19.00%) and NICO (10.00%).