Minister: 'Southern Gas Corridor project will cost 40 bln USD'

Baku. 2 June. REPORT.AZ/ Currently, the works, which will be carried out regarding establishment of the Southern Gas Corridor is estimated at 40 billion USD.

Report informs, Azerbaijani Energy Minister Natig Aliyev told reporters: 'Prices of the materials, to be used in construction of pipelines, fell due to situation in oil market. It also reduces the cost of the project'.

'We estimate TANAP at 11 billion USD, currently, the funds attracted to the construction of pipelines fell to 9,3 billion USD', the minster added.

N.Aliyev stressed that regular re-assessments are carried out on planned costs: 'Development of the second phase of 'Shahdeniz' field and the South Caucasus Pipeline Expansion Project is estimated at 23,8 billion USD, as well as construction works of Trans-Adriatic Pipeline at 6 billion USD.