SHAH DENIZ
PROJECT (SD)
SOUTH CAUCASUS
PIPELINE (SCP)
TRANS-ANATOLIAN
PIPELINE (TANAP)
TRANS ADRIATIC
PIPELINE (TAP)
Ilham Aliyev attended official opening ceremony of Southern Gas Corridor

President of the Republic of Azerbaijan Ilham Aliyev has attended the official opening ceremony of the Southern Gas Corridor in Sangachal terminal

29 May 2018 Link to the news
Southern Gas Corridor inaugurated

The inauguration ceremony of Southern Gas Corridor held at the Sangachal Terminal on 29 May 2018

The Southern Gas Corridor project inaugurated in Azerbaijan.

An official ceremony marking the inauguration of the Southern Gas Corridor (“SGC”) was held, today, 29 May 2018, at the Sangachal Terminal near Baku.

Ilham Aliyev, President of the Republic of Azerbaijan, attended the ceremony and by opening a symbolic valve formally inaugurated the SGC value chain across Azerbaijan and Georgia aimed at delivering first commercial gas to Turkey next month.

The President of Azerbaijan expressed his gratitude to the Turkey, Georgia, US, UK, EU for political and economic backing of the SGC, as well as to the banks providing financial support to the project participants enabling the realisation of the SGC.

Bernard Looney, from BP, on behalf of the Shah Deniz consortium, also emphasized the importance of the value chain to all stakeholders, the successful delivery of the project by Shah Deniz consortium, and acknowledged the ongoing support of the President of Azerbaijan, the government and SOCAR in its implementation.

The main purpose of the SGC is the full-field development of Shah Deniz gas-condensate field (or Shah Deniz Stage 2) and subsequent delivery of the gas to be produced under the project via SCPX, TANAP and TAP to Turkey and Southern Europe. 12 June 2018 will mark the opening of the next leg of SGC – TANAP at Eskishehir, Turkey.

The entity holding and managing the participating interests of the Republic of Azerbaijan in the SGC is Southern Gas Corridor CJSC (“SGC CJSC”), which was incorporated pursuant to Presidential Decree No. 287 “On relevant measures related to the second stage of the operation of Shah Deniz gas-condensate field and establishment of the Southern Gas Corridor with regard to other projects” dated 25 February 2014. 51% of SGC CJSC’s share capital is held by the Ministry of Economy of the Republic of Azerbaijan and 49% by SOCAR.

29 May 2018 Read more
Fourth Ministerial Meeting of Southern Gas Corridor Advisory Council held in Baku

The 4th Ministerial Meeting of the Southern Gas Corridor (SGC) Advisory Council has been held at the Heydar Aliyev Center in Baku.

15 February 2018 Link to the news
Afgan Isayev: So far Azerbaijan invested $ 8.6 bln in SGC project - INTERVIEW

Afgan Isayev: So far Azerbaijan invested $ 8.6 bln in SGC project

17 January 2018 Link to the news
“Southern Gas Corridor” CJSC signs a syndicated loan facility guaranteed by ADB

“Southern Gas Corridor” CJSC signs a syndicated loan facility in the amount of US$524.5 million, guaranteed by ADB, for the financing of Shah Deniz project.

On 22 December of the current year, loan and guarantee agreements were signed for granting a syndicated loan facility in the amount of US$524.5 million backed with the guarantees of Azerbaijani state (sovereign guarantee) and Asian Development Bank (ADB) to “Southern Gas Corridor” CJSC (SGC) for the purpose of supporting the development of Shah Deniz gas and condensate field (Shah Deniz project).

The aforementioned guarantee agreement was signed by the Finance Minister Samir Sharifov on behalf of the Azerbaijani state, and the loan agreement was signed by SGC’s General Director Afgan Isayev.

It should be noted that earlier, in May 2017, a direct loan in the amount of US$500 million backed with the sovereign guarantee and with a tenor of 15 years, was allocated by ADB to SGC for the financing of Shah Deniz project.

ADB was founded in 1966 and is composed of 67 member-countries. Azerbaijan became a member of ADB on 22 December 1999. In 2015 Azerbaijan hosted the 48th Annual Meeting of the Board of Governors of ADB.

SGC’s General Director Afgan Isayev having noted that Southern Gas Corridor project will secure Azerbaijan’s long-term, successful and sustainable development, gave information in relation to the works done in this direction: “The leading international financial institutions, represented by the International Bank for Reconstruction and Development, Asian Infrastructure Investment Bank, European Bank for Reconstruction and Development and Asian Development Bank (via a direct loan), have already provided their support for the Southern Gas Corridor project. SGC’s share for the financing of the Southern Gas Corridor (including the existing Shah Deniz 1 and SCP projects) till 2020 inclusive is US$11.5 billion, out of which US$8.4 billion or roughly 73% has already been invested. Out of this amount, US$2.3 has been invested from the beginning of the year. Within Southern Gas Corridor project, overall progress to the 1st Gas under Shah Deniz Stage 2 project is 98.5%, under the South Caucasus Pipeline Expansion (SCPX) project - 99.2% (to the 1st Gas), for Trans-Anatolian Pipeline (TANAP) project – 87.4% and for Trans Adriatic Pipeline (TAP) project – 60.8%. The construction works are successfully progressing.”

The main purpose of the Southern Gas Corridor project is the full-field development of Shah Deniz gas-condensate field (or Shah Deniz Stage 2) and subsequent delivery of the gas to be produced under this project via SCPX, TANAP and TAP to Turkey and Southern Europe.

“Southern Gas Corridor” CJSC was incorporated pursuant to Presidential Decree No. 287 “On relevant measures related to the second stage of the operation of Shah Deniz gas-condensate field and establishment of the Southern Gas Corridor with regard to other projects” dated 25 February 2014; 51% of SGC’s capital is held by the Ministry of Economy of the Republic of Azerbaijan and 49% of the capital is held by SOCAR.

22 December 2017 Read more
Loan agreement signed between “Southern Gas Corridor” CJSC and European Bank for Reconstruction and Development

Loan agreement in the amount of US$500 million for the financing of Trans-Anatolian Pipeline (“TANAP”) project was signed between “Southern Gas Corridor” CJSC and European Bank for Reconstruction and Development

On the 20th of October of the current year a loan agreement in the amount of US$500 million for the financing of TANAP project was signed between “Southern Gas Corridor” CJSC (SGC) and European Bank for Reconstruction and Development (EBRD).

The aforementioned loan agreement was signed by SGC’s General Director Afgan Isayev and the Director of Energy and Natural Resources for Russia, Caucasus and Central Asia region at EBRD, Aida Sitdikova, while the Guarantee Agreement in relation to the loan agreement was signed by the Minister of Finance of Azerbaijan Republic Samir Sharifov and Aida Sitdikova.

It should be noted that earlier, on the 18th of October of 2017, the Board of Directors at EBRD approved the allocation of US$500 million to SGC under the loan agreement, backed with the sovereign guarantee, for the financing of TANAP Project.

SGC’s General Director Afgan Isayev having noted that Southern Gas Corridor Project will serve the delivery of Azerbaijani gas to global energy markets and will provide significant contribution to the development of the national economy, gave information in relation to the works done in this direction: “The leading international financial institutions, represented by the International Bank for Reconstruction and Development, Asian Infrastructure Investment Bank and Asian Development Bank, have already provided their support for the Southern Gas Corridor project. SGC’s share for the financing of the Southern Gas Corridor (including the existing Shah Deniz 1 and SCP projects) till 2020 inclusive is US$11.8 billion, out of which US$7.8 billion or roughly 66% has already been invested. Out of this amount, US$1.9 has been invested from the beginning of the year. Within Southern Gas Corridor project, overall progress to 1st Gas under Shah Deniz Stage 2 project is 96%, 98% (to 1st Gas) under the South Caucasus Pipeline Expansion (SCPX), 82% for TANAP and 53% for Trans Adriatic Pipeline (TAP) projects. The construction works are successfully progressing.”

The main purpose of the Southern Gas Corridor project is the full-field development of Shah Deniz gas-condensate field (or Shah Deniz Stage 2) and subsequent delivery of the gas to be produced under this project via SCPX, TANAP and TAP to Turkey and Southern Europe.

“Southern Gas Corridor” CJSC was incorporated pursuant to Presidential Decree No. 287 “On relevant measures related to the second stage of the operation of Shah Deniz gas-condensate field and establishment of the Southern Gas Corridor with regard to other projects” dated 25 February 2014; 51% of SGC’s capital is held by the Ministry of Economy of the Republic of Azerbaijan and 49% of the capital is held by SOCAR.

20 October 2017 Read more
EBRD Board approves financing for Trans-Anatolian Natural Gas Pipeline

The EBRD Board of Directors has approved a US$ 500 million regional project today that will help finance the delivery of crucial energy supplies from the Caspian Sea through to Europe along the Southern Gas Corridor (SGC).

18 October 2017 Link to the news
'Southern Gas Corridor' CJSC: 16.4 bln USD spent on Shah Deniz-2

As of the end of August 2017, US$16.4 billion had been spent on Shah Deniz 2 project, part of the Southern Gas Corridor project aimed at transporting Azerbaijani gas to Europe.

13 October 2017 Link to the news
TAP supports over 12,000 families in receiving landownership certificates in Albania

The cadastre update process started by Trans Adriatic Pipeline (TAP) in 2013 has helped more than 12,000 families along the pipeline’s route in Albania to receive landownership certificates, said the message on TAP consortium’s website.

07 September 2017 Link to the news
President Ilham Aliyev attended launch of Khankendi subsea construction vessel

The state-of-the-art Khankendi subsea construction vessel has been launched in Baku. President of the Republic of Azerbaijan Ilham Aliyev attended the ceremony.

06 September 2017 Link to the news