In order to ensure the delivery of Azerbaijani natural gas to world markets, on 29 October 2013 the President of the Republic of Azerbaijan signed Decree No. 15 establishing a State Commission to provide government oversight and comprehensive support for the efficient implementation of the full-field development of Shah Deniz gas-condensate field (“SD2”), the expansion of the South Caucasus Pipeline system (“SCPX”), Trans-Anatolian Pipeline (“TANAP”) and Trans-Adriatic Pipeline (“TAP”) (together, the “Projects”).

On 25 February 2014, the President signed Decree No. 287 establishing the “Southern Gas Corridor” Closed Joint-Stock Company (SGC CJSC), founded with the State (Ministry of Economy of the Republic of Azerbaijan) holding 51 percent and SOCAR holding 49 percent, for the purpose of consolidating, managing and financing the state’s interests in the Projects. SGC CJSC was entered into the state register on 31 March 2014.

In accordance with that decree, all of SOCAR’s participation interests in the Projects were transferred to SGC CJSC, and the financing and efficient management of those interests are carried out by SGC CJSC.

On 10 December 2024, the President signed Decree No. 389 transferring to SOCAR’s charter capital the ownership rights over the state-owned shares in SGC CJSC representing 2 percent of its charter capital. As a result, SGC CJSC’s shares are now held 49 percent by the State (Ministry of Economy) and 51 percent by SOCAR.

SOCAR carries out the operational activities for the Projects on behalf of SGC.

The organisational structure of Southern Gas Corridor CJSC is as follows: