Southern Gas Corridor triples its capital

Southern Gas Corridor

Southern Gas Corridor: Azerbaijan’s State Securities Committee (SSC) today (February 4) announced that it was to triple the capital behind the Southern Gas Corridor project by issuing 100 shares at a par value of $3m each. On completion the corridor will stretch over 3,500 km, cross seven countries and involve over a dozen major energy companies by linking a number of separate energy projects including the  development of the Shah Deniz 2 field oil and gas fields in the Caspian Sea; the expansion of  Azerbaijan’s Sangachal Terminal gas processing plant; and the South Caucasus, Trans Anatolian (TANAP) and Trans Adriatic (TAP) pipelines. The objective behind the corridor is to enable Europe to diversify its hydrocarbon supply sources and strengthen energy security and to give Azerbaijan access to European energy markets. Azernews