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SOCAR: SGC project shareholders plan to raise extra $2B

SOCAR: SGC project shareholders plan to raise extra $2B Energy

Trend:

Shareholders of the Southern Gas Corridor (SGC) project plan to raise additional $2 billion from international finance institutions to fund the project, Rovnag Abdullayev, president of Azerbaijan’s state oil company SOCAR, told reporters April 2.

Abdullayev said the funds are planned to be attracted before late 2016 for a period of 20 years at very low interest rates.

“Negotiations are underway with the European Bank for Reconstruction and Development, Asian Development Bank and other international finance institutions,” he said.

The SOCAR president also said that the ceremony for laying the foundation of the Trans-Adriatic Pipeline (TAP) will be held May 17 in Greece.

TAP project envisages transportation of gas from the Stage 2 of development of Azerbaijan’s Shah Deniz gas and condensate field to the EU countries.

The 870-kilometer pipeline will be connected to the Trans Anatolian Pipeline (TANAP) on the Turkish-Greek border, run through Greece, Albania and the Adriatic Sea, before coming ashore in Italy’s south.

TAP’s initial capacity will be 10 billion cubic meters of gas a year, expandable to 20 billion cubic meters. The pipeline’s construction is planned to start in mid-2016.

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SOCAR; SGC project shareholders plan to raise extra $2B SOCAR SGC project shareholders planthe caspian sea map of caspian sea caspian sea lake caspian sea river caspian sea monster caspian sea oil caspian sea iran caspian sea countries caspian sea iran Caspian Sea fish Photo of the Caspian Sea Caspian Sea map Caspian Sea Caspian Sea depth Caspian Sea sturgeon of the Caspian Sea Khezer_Shahr Caspian Sea Caspian oil seport of Amirabad seport of Port Anzali Mazandaran Gilan, Golestan Babolsar Tourist North Country Dodangeh Chahardangeh the Khazars the people of the Khazars Caspian people Sea of Qazvin Khazarabad Caspian sea coast Caspian Sea legal norms Caspian environment pollution of the Caspian Sea Caspian oil gas of the Caspian Sea Caspian Sea issues the legal system of the Caspian Sea Iran's share in Caspian legal aspects of the Caspian Sea environment of the Caspian Sea the importance and status of the Caspian Sea Caspian to the Persian Gulf connection National Institute of Oceanography features of the Caspian Sea Caspian Shipping Company Caspian Sea level Iran Russia Kazakhstan Azerbaijan, Turkmenistan fishing in the Caspian Sea Caspian Sea weather transport in the Caspian Sea Caspian Sea News marine transportation in the Caspian Sea region the Iranian islands in the Caspian Sea the scaffolding factory and shipyard Caspian ecological Institute of Caspian Sea Caspian Sea Shells in nitrate and phosphate important rivers of Caspian Sea Caspian sea basin mammal of Caspian Sea Caspian oil Company Caspian Sea water transfer babol Amol northern tourist areas the forests of the north spectacular Photos of Mazandaran Mazandaran forests gilan forests images of Mazandaran forests Falls river forest Institute for Caspian Sea Caspian Sea level fluctuations Black gold caviar stellate sturgeon Hotels tourism Tourist iran tourism Russia tourism Azerbaijan tourism Caspian sea people political event event lawyer export import goods export goods import environment war military political economic economy