Azerbaijan finances over 78% of its share in Southern Gas Corridor
The total funding needs in 2014-2020 required for the financing of the company’s participating interests in the projects is $11.5 billion, said the company.
“Up to 20 April 2018 Southern Gas Corridor CJSC has invested over $9 billion (78.1 percent) of the total of $11.5 billion (total funding needs in 2014-2020) required for the financing of its participating interests in the projects,” said the company.
The Southern Gas Corridor is one of the priority projects for the EU and provides for the transportation of 10 billion cubic meters of Azerbaijani gas from the Caspian region through Georgia and Turkey to Europe.
At an initial stage, the gas to be produced as part of the Stage 2 of development of Azerbaijan's Shah Deniz field is considered as the main source for the Southern Gas Corridor projects. Other sources can also connect to this project at a later stage.
As part of the Shah Deniz Stage 2, the gas will be exported to Turkey and European markets by expanding the South Caucasus Pipeline and the construction of Trans-Anatolian Natural Gas Pipeline (TANAP) and Trans Adriatic Pipeline (TAP).