I. Aliyev on SGC Project, Gas Supplies to Europe

Baku/12.02.21/Turan: The construction of the Southern Gas Corridor (SGC), which provides for the creation of pipeline infrastructure for exporting Azerbaijani gas to Europe, as well as a resource base for gas supplies through these pipelines - the development of the Shah Deniz-2 field cost $ 33 billion

Savings in the implementation of the project to export Azerbaijani gas to Europe amounted to $ 11.6 billion, Azerbaijani President Ilham Aliyev said.

"Initially, the cost of these works was estimated at $ 44.6 billion. However, due to effective management and proper planning, it was possible to reduce the cost of the project to $ 33 billion," Aliyev said on February 11 at the 7th meeting of the Advisory Council on the SGC project.

According to him, Azerbaijan's investments in the project amounted to $ 10 billion.

Azerbaijani President Ilham Aliyev launched the SGC on May 29, 2018.

The main components of the SGC are: development of the Shah Deniz-2 field, expansion of the South Caucasus pipeline (from Baku to the Georgian-Turkish border), construction of the TANAP gas pipeline in Turkey and the Trans-Adriatic gas pipeline (TAP) connecting Greece, Albania and southern Italy.

Azerbaijan expects to soon sign a final agreement with Turkmenistan on the development of the Dostlug field in the Caspian Sea, Ilham Aliyev said.

 He also said that Azerbaijan is "a reliable country for the transportation of energy resources from the Eastern coast of the Caspian."

“For many years we have been providing important transport routes for our partners on the Eastern coast of the Caspian Sea through the Baku-Tbilisi-Ceyhan oil pipeline and the railway system of Azerbaijan and we have established ourselves as a reliable transit country,” he said. -0-