Baku. 3 April. REPORT.AZ/ "South Gas Corridor" CJSC has invested $ 3.56 billion to finance Azerbaijan's share in the Trans-Anatolian Pipeline (TANAP), which was built to transport Azerbaijani gas to Turkey and from then to Europe.
Report was informed in the "South Gas Corridor" CJSC.
According to report, total amount of funds spent on TANAP together with the partners as of late February is $ 5.3 billion. Total cost of TANAP is $ 8 billion.
Notably, "Southern Gas Corridor" CJSC was established by Azerbaijani President`s decree "On some events connected with the second stage of the Shah Deniz gas condensate and other projects related to establishment of the Southern Gas Corridor" dated February 25, 2014. It is a closed joint stock company, 51% shares as state property owned by the Ministry of Economy and 49% SOCAR. "Southern Gas Corridor" CJSC is a company representing Azerbaijan's interests in the international SGC gas project.
On March 17, 2015, groundbreaking ceremony of TANAP was held in Kars, Turkey with participation of Azerbaijani, Turkish and Georgian Presidents.is a project to transport the gas, produced in the second phase development of "Shah Deniz" field in the Azerbaijani sector of the Caspian Sea. Initial capacity of the pipeline will be 16 billion cum/year. About 6 billion cum of this gas will be delivered to Turkey, the remaining to Europe. The TANAP pipeline will have two starting points in Turkish provinces Eskişehir and Thrace. The sale of gas in Turkey will be carried out by BOTAS. Total length of the pipeline is 1 850 km.
Azerbaijan's share in TANAP project is 58%, BOTAŞ - 30%, BP - 12%.