The Southern Gas Corridor project aims to increase and diversify European energy supply by bringing gas resources from the Caspian Sea to markets in Europe. The Southern Gas Corridor comprises the following four projects: (i) Shah Deniz natural gas-condensate field (“SD1”) and its full-field development (“SD2”), (ii) South Caucasus Pipeline (“SCP”) and its expansion (“SCPX” project), (iii) Trans-Anatolian Natural Gas Pipeline (“TANAP”) and (iv) Trans Adriatic Pipeline (“TAP”) (SD2, SCPX, TANAP and TAP collectively, the “Projects”). The Projects have an estimated investment cost of approximately US$40 billion. Upon completion, SD2 project added a further 16 bcma of natural gas production capacity to 11 bcma production capacity already existing under SD1 project. Total length of the newly constructed SCPX, TANAP and TAP pipelines is more than 3,200 kilometres.
The entity holding, managing and financing the participating interests of the Republic of Azerbaijan in the Projects is Southern Gas Corridor CJSC.