ADB to Make Investment Plan for Shah Deniz-2 Full Field Development

The Asian Development Bank (ADB) refused to clarify the timing of the issuance of a loan to Azerbaijan's government for the Shah Deniz-2 gas condensate field development project and the Southern Gas Corridor (SGC) project.

Earlier the timing of consideration of the issue was approved by the Board of Directors, but delayed - last time, from 22 August to 27 September. According to the report on the ADB website, it is a multi-tranche sum of $ 1.505 billion.

But the bank will support the full-scale development of the Shah Deniz-2 field, making an investment plan aimed at improving the government's fiscal position by increasing revenues through the production, processing and export of natural gas, associated with more employment.

According to the plan, the bank will provide a partial credit guarantee to support commercial financing in the amount of 16.67% of the project's value. --17D-

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