Financial Audit of JSC Southern Gas Corridor by Ernst & Young
JSC Southern Gas Corridor signed a contract with Ernst & Young Holdings (SIYAYES) B.V. on the financial audit of operations for 2014. The parties agreed on a price of 46 thousand manat.
The JSC was registered on 31 March 2014. Its authorized capital is $ 300 million. The shareholders are the Ministry of Economy and Industry - 51% and SOCAR - 49%. The company is 100% owner of two Ltd. (SGC Upstream and SGC Midstream).
Last time JSC Southern Gas Corridor published financial statements as of 30 September 2014, under which its financial expenses were $8.3 million. Long-term liabilities of the company in the form of bonds outstanding amounted to $ 2 billion 273,200,000. All the debt securities were bought by the State Oil Fund of Azerbaijan. In November 2014 the company issued bonds of $ 252.2 million.
JSC Southern Gas Corridor was created by the decree of President Ilham Aliyev in February 2014 in order to implement the second phase of the operation of the gas-condensate field Shah Deniz and the creation of the Southern Gas Corridor. ----08D
Economics
-
Azerbaijan's tourism industry has shown marked signs of recovery and growth in the first nine months of 2024, underscoring the sector's resilience and adaptability in the post-pandemic landscape. As of September 2024, nearly 2.086 million foreign tourists visited Azerbaijan, a robust increase of 30.2% compared to the same period in 2022. The country witnessed a particularly strong performance in July 2024, with 271,591 tourists—a 21% rise from July last year.
-
Freight traffic along the Trans-Caspian International Transport Route has shown a remarkable increase in the first nine months of 2024, bolstered by a concerted push from participating countries to enhance their transport corridors and logistical frameworks. The strategic corridor, which links Asia and Europe via the Caspian Sea, has seen cargo volumes surge by 2.7 times compared to the same period in 2022, highlighting its growing significance as a viable alternative to traditional trade routes.
-
In September 2024, the prices of building materials in Baku increased by an average of 0.9% compared to the previous month, reflecting a stable yet slightly inflationary trend in the construction sector. This trend has been driven by a mix of local demand factors and fluctuations in import prices, particularly for materials such as timber and rebar.
-
The British Islamic Trade Association and the Association of Food and Beverage Producers of Azerbaijan signed a Memorandum of Understanding (MoU) during the first Azerbaijan Halal Business and Tourism Forum (AZHAB Forum), held in Baku on October 8-9, 2024.
Leave a review