Slump of oil prices at the world market has led to reduction of cost of the Southern Gas Corridor (SGC) project, which is designed for transportation of Azerbaijani gas to Europe, Azerbaijani Energy Minister Natig Aliyev told journalists.
“This is because cost of some building materials, which are used in construction, has gone down,” said Minister.
He said in this situation cost of the Shah Deniz-2 project development is estimated at $23.8 billion. This amount could also include expansion of the South Caucasian pipeline, which is worth $4.9 billion. Earlier cost of the Shah-Deniz-2 project was estimated at $25 billion.
Aliyev said that cost of another component of SGC – TANAP – is now estimated at $9.3 billion (earlier $11.8 billion), while Trans Adriatic gas pipeline (TAP) - $6 billion. Thus, currently cost of SGC is $39.1 billion. Earlier the project was estimated at $45 billion.—0—
Economics
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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