Nearly $32B spent on SGC

Baku. 13 November. REPORT.AZ/ Nearly $32 billion has been spent on the Southern Gas Corridor (SGC), which is designed for transportation of Azerbaijani gas to Europe.

The SGC is intended to transport Shahdeniz 2 gas to Turkey and Europe. Shahdeniz 2, South Caucasus Pipeline Expansion (SCPX), TANAP and TAP are the components of the SGC.

The SGC told Report that as at the end of September 2018, $18.2 billion was spent on Shahdeniz 2, $ 4.3 billion on SCPX, $5.7 billion on TANAP and €3.2 billion on TAP.

The total cost of Shahdeniz 2 is $22.7 billion, SCPX - $4.5 billion, TANAP - $8 billion and TAP - €4.5 billion. The project costs on the SGC falling to share of Azerbaijan is $11.4 billion.

Shahdeniz 2 has been completed by 91.7%, SCPX – by 99.5%, TANAP – by 97.6% and TAP – by 80.7%. 

The “South Gas Corridor” CJSC was established in accordance with the Presidential Order on “Actions related to projects on Phase II of development of Shah-Deniz gas condensate field and establishment of South Gas Corridor” dated February 25, 2014. 51 percent of the shares of the Company belongs to the state and 49 percent are owned by SOCAR.