'Southern Gas Corridor' CJSC: 16.4 bln USD spent on Shah Deniz-2

Baku. 13 October. REPORT.AZ/ As of the end of August 2017, US$16.4 billion had been spent on Shah Deniz 2 project, part of the Southern Gas Corridor project aimed at transporting Azerbaijani gas to Europe.

Report informs that this information was given by the General Director of Southern Gas Corridor CJSC Afgan Isayev during Argus Azerbaijan International Petroleum Summit 2017.

The total cost of the Shah Deniz 2 project is US$23.9 bln. US$3.8 billion has been spent on expansion of the South Caucasus Pipeline project. The total cost of the project is US$4.7 billion”, he said.

According to the Mr. Isayev, US$4.6 billion had been spent on Trans-Anatolian Pipeline (TANAP) as of the end of August 2017.

"The total cost of TANAP is US$8 billion. However, the initial cost of the project was US$11 billion”, A. Isayev said.

He also said that by the end of August 2017, 2.3 billion euros had been spent on Trans Adriatic Pipeline (TAP).

The total cost of the TAP is 4.5 billion euros. The first Azerbaijani gas will be delivered to Europe by 2020.

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% of shares owned by the Ministry of Economy and 49% SOCAR.