Volume of Azerbaijan’s investments in Southern Gas Corridor revealed

By  Trend

Up to December 8, 2017 Azerbaijan’s Southern Gas Corridor CJSC has invested $8.4 billion (or 72 percent) of the total of $11.7 billion (total funding needs in 2014-2020) required for the financing of its participating interests in the Projects, Trend learned from the CJSC.

Regarding the possibility of issuing Eurobonds, the company said as of today, it does not intend to issue any further Eurobonds in 2017 or early 2018.

The Southern Gas Corridor is one of the priority energy projects for the EU. It envisages the transportation of gas from the Caspian region to the European countries through Georgia and Turkey.

At the 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 Stage 2 of the Shah Deniz development, 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 and Trans Adriatic Pipeline.