Sunday, 18 August 2019 08:47 GMT

2019 investment plan for Southern Gas Corridor disclosed

(MENAFN - Trend News Agency) Baku, Azerbaijan, Feb.13

By Leman Zeynalova – Trend:

Azerbaijan's Southern Gas Corridor closed joint stock company (CJSC) plans to invest around $900 million in the relevant segments of the Southern Gas Corridor in 2019, Azerbaijan's state oil company SOCAR told Trend.

The company said that in accordance with the financial obligations, the Southern Gas Corridor CJSC has invested a total of $9.6 billion in the projects as of 2018.

This is while the company's investments in the projects in 2018 neared $1 billion, said SOCAR.

The Southern Gas Corridor is one of the priority projects for the EU and envisages the transportation of 10 billion cubic meters of Azerbaijani gas from the Caspian region through Georgia and Turkey to Europe.

The launching ceremony of the first stage of the Southern Gas Corridor was held in Baku on May 29, 2018, while opening ceremony of TANAP was held on June 12, 2018 in the Turkish city of Eskisehir.

The gas from the Azerbaijani Shah Deniz field has already gone through the first segment of the Southern Gas Corridor - from the Sangachal terminal to the expanded South Caucasus Pipeline.

Trans-Adriatic Pipeline (TAP) and Trans-Anatolian Natural Gas Pipeline (TANAP) have been recently connected on the Turkish-Greek border.


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2019 investment plan for Southern Gas Corridor disclosed

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