Expenditures of SGC CJSC to exceed $6 billion

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Expenditures of the Southern Gas Corridor CJSC within the framework of the Trans Anatolian Natural Gas Pipeline (TANAP) construction project will exceed $6 billion, a senior official of the Azerbaijan’s state oil company SOCAR said local media.

“Expenditures of the Southern Gas Corridor CJSC, the main share in which belongs to the government of Azerbaijan will amount to $6.2 billion by 2020,” said the representative of SOCAR, which owns the remaining 49 percent in this company.

The Southern Gas Corridor CJSC acts as an operator of the project, which includes, in particular, the TANAP project worth $9.2 billion.

“Nearly a quarter of the planned investments - more than $2 billion - has been already spent during the TANAP construction,” SOCAR representative said. “The project is running according to schedule.”

Currently, the shareholders of TANAP are: SOCAR (State Oil Company of Azerbaijan) - 58 percent, Botas - 30 percent and BP - 12 percent.

2016.06.30 / 10:45
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