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Azerbaijan reports expenses on SGC

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The Southern Gas Corridor (SGC) CJSC spent $ 9 billion to implement the SGC project as of the end of April 2018, the CEO Afghan Isayev said.

“The expenses of SGC up to 2020 inclusive will amount to about $ 11.5 billion, of which $ 9 billion has been spent so far,” A. Isayev said, speaking at the Caspian Oil & Gas 2018 conference.

He said that, as of the end of April 2018, the CJSC attracted $ 2.5 billion from international financial institutions for the implementation of this project.

Table of Costs of Southern Gas Corridor CJSC

 

Projects As of 30.04.2018 Project Costs
Shah Deniz-2 $17.7 bn $22.7 bn
Expansion of Southern Caucasus Pipeline $4.2 bn $4.5 bn
TANAP $5.4 bn $7.9 bn
TAP EUR 2.9 bn EUR 4.5 bn
Total $27.3 bn + EUR 2.9 bn $35.1 bn + EUR 4.5 bn

 

Isayev also said the costs of CJSC SGC will be $ 1.3 billion in 2018, and in 2019-2020 they will total $ 1.6 billion.

“Expenses for the SGC project amounted to $ 0.5 billion in January-April 2018, and before the end of this year another $ 0.8 billion will be spent. In the period 2019-2020, the total costs of the project will be $ 1.6 billion, including $ 1.4 billion in 2019 and $ 0.2 billion in 2020,” Isayev said.

Thus, from May 2018 to 2020 inclusive the costs of the CJSC for the project will be $ 2.4 billion.

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