Azerbaijan to issue $2bn Southern Gas Corridor bonds

Southern Gas Corridor

Southern Gas Corridor bonds: Azerbaijan is getting ready to go on the road next month in a bid to sell $2bn worth of bonds in  the Southern Gas Corridor on the international market, its Finance Minister Samir Sharifov told a press conference yesterday. The bonds will be issued by Southern Gas Corridor CJSC,  he said, and three banks – Citibank, JP Morgan and Unicredit Bank – have been appointed to manage the process.  
On completion, the Southern Gas Corridor is intended to  transport gas from the Caspian Sea  to Europe through Georgia and Turkey and is considered to be of high priority by the EU in its efforts to wean its members off their dependence on Russian gas by securing alternative supplies. It will initially be used to distribute gas from Azerbaijan’s giant offshore Shah Deniz,  and may tap into other sources (including fields in Turkmenistan and possibly Iran) at a later stage.
“This project is of great importance for Azerbaijan,” Sharifov said.

Source: Azernews