Big funds to be allocated for implementation of SGC project until 2020

  30 May 2019    Read: 1184
  Big funds to be allocated for implementation of SGC project until 2020

By the end of 2020, the Southern Gas Corridor CJSC will allocate $400 million for the implementation of the SGC project, Afgan Isayev, director general of the Southern Gas Corridor CJSC, said at the 26th International Caspian Oil & Gas Conference in Baku. 

He said that so far, the costs for the SGC project have amounted to $33 billion.

He noted that $18.8 billion was spent on Shah Deniz 2 project.

“Some $6.2 billion was spent on the Trans-Anatolian Natural Gas Pipeline (TANAP),” he said. “The total cost of the project is $7 billion. The costs for the Trans-Adriatic Pipeline (TAP) amounted to 3.6 billion euros, and the cost of the project is 4.6 billion euros.”

The Southern Gas Corridor project envisages the creation of a pipeline infrastructure for the transportation of Azerbaijani gas, which is extracted as part of the development of the Shah Deniz 2 field, to Europe via Turkey.

The main components of the project are Shah Deniz Stage 2, expansion of the South Caucasus pipeline Baku-Georgia-border with Turkey, construction of the Trans-Anatolian Natural Gas Pipeline (TANAP) from Turkey’s eastern border to the western border and the Trans-Adriatic Pipeline (TAP) connecting Greece, Albania and the Adriatic Sea in southern Italy.

Supplies of Azerbaijani gas to Europe are expected in the amount of 10 billion cubic meters in early 2020. In addition, 6 billion cubic meters of Azerbaijani gas will be supplied to the western regions of Turkey. Deliveries to Turkey began in the summer of 2018.


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