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).

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.

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.

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.

The European Bank for Reconstruction and Development (EBRD) has concluded the final review of the project for allocating $500 million loan for construction of the Trans Anatolian Pipeline (TANAP), the Bank reported.

More than 500 kilometers out of 765 kilometers of the Trans Adriatic Pipeline’s (TAP) route has been cleared in Greece and Albania, which is 2/3 of the pipeline’s length in those two countries, TAP AG consortium said.

"The Southern Gas Corridor is being successfully implemented today. This project consists of four parts. The first part is Shah Deniz gas field,

‘The Southern Gas Corridor project will contribute to ensuring energy security of Europe’, the Deputy Energy Minister of Romania Julian-Robert Tudorache stated at opening of the 24th International "Caspian Oil and Gas 2017".

‘The Southern Gas Corridor project is the biggest project of BP’, Joseph Murphy, BP vice president for the Southern Gas Corridor said at the Energy Charter Forum,

Director General of the Southern Gas Corridor CJSC Afgan Isayev said Azerbaijan has invested $799.3 million in the Southern Gas Corridor project this year.