EIB approves 932 mln euro loan for TANAP gas pipeline - REUTERS

MARCH 15, 2018 / 5:48 PM
Reporting by Alissa de Carbonnel; editing by Philip Blenkinsop

BRUSSELS, March 15 (Reuters) - The European Investment Bank approved 932 million euros ($1.15 billion) in financing on Thursday for the Trans-Anatolian Natural Gas Pipeline (TANAP), the largest part of a $40 billion project to bring new gas supplies to Europe.

The so-called Southern Gas Corridor is expected to bring around 16 billion cubic metres per year to Europe by 2020 from the Shah Deniz 2 field in Azerbaijan via TANAP through Turkey, the South Caucasus pipeline extension through Georgia and the Trans-Adriatic Pipeline (TAP) to Greece, Albania and Italy.

Shah Deniz 2 is one of the world’s largest gas fields and is developed by a BP-led consortium.

Financing for construction of the TANAP pipeline has already been approved by the European Bank for Reconstruction and Development (EBRD), the World Bank and Asian Infrastructure and Investment Bank (AIIB).

SCPX project: construction complete at majority of facilities in Georgia - TREND NEWS AGENCY

30 December 2017 10:04 (UTC+04:00)

Construction work has been completed at majority of facilities as part of the South Caucasus Pipeline Expansion (SCPX) project in Georgia, Trend learned from Georgia’s Ministry of Economy and Sustainable Development.

"SCPX compressor stations’ construction is progressing. The first compressor station (CSG1), as well as pressure reduction station at Georgian-Turkish border (Area 81), the 62-kilometer SCPX pipeline extension, including connection with TANAP at the Turkish border is completed," said the source in the ministry.

The construction of the second compressor station (CSG2) is 90 percent complete, added the source.

"The expansion of South Caucasus pipeline is one of the most important developments in terms of energy security of Georgia and larger region, said the source.

ADB agrees to lend $500 mln to Azeri gas project - REUTERS

Sun May 7, 2017 | 9:19am EDTReporting by Nailia Bagirova; writing by Andrey Ostroukh; editing by Jason Neely

The Asian Development Bank (ADB) has agreed to provide a $500 million loan to Azerbaijan's Shah Deniz 2 project, the Azeri finance ministry said on Sunday.

The ADB said earlier this year it was considering lending money to Azerbaijan to help fund the second stage of development of the Shah Deniz natural gas project in the Caspian Sea.

On Sunday, the ADB and representatives of Azerbaijan signed an agreement in Yokohama, Japan, under which the Southern Gas Corridor will receive funds to develop Shah Deniz 2, the ministry said in a message sent to Reuters.

Gulmira Rzayeva: "Azerbaijan will ensure Europe's energy security for many years to come" - VESTNIK KAVKAZA

Apr 16 - 10:00 am

Leading expert on energy issues of the Strategic Studies Center under Azerbaijani President, expert of the Oxford Institute of Energy Studies, Gulmira Rzaeva, discussed the future of Azerbaijani pipeline project Southern Gas Corridor and prospects of the development of European and Turkish gas markets as main consumers of Azerbaijani gas in an interview with Vestnik Kavkaza.

- Can other, alternative gas projects become competitors with the Southern Gas Corridor?

SCPX pipeline network on track for completion next year - UPSTREAM ONLINE

6 Apr 2017 09:47 GMT
Kama Mustafayeva

The Azeri and Georgian pipeline network that will feed Shah Deniz gas to the Trans Anatolian Pipeline (Tanap) is likely to be completed next summer, writes Kama Mustafayeva.

The pipeline, known as SCPX, will be ready to receive production from Shah Deniz 2 in late June next year, according to Tanap managing director Saltuk Duzyol. "We plan to make our first gas delivery at the end of June 2018 if everything goes according to schedule. We are keeping costs relatively low," Duzyol said.

About 77% of the so-called "phase zero" of Tanap , which runs from the Turkish-Georgian border to Eskisehir has already been completed.

SOFAZ allocated over $1B for Southern Gas Corridor - TREND NEWS AGENCY

9 March 2017 08:30 (UTC+04:00)
Baku, Azerbaijan, Maksim Tsurkov

The State Oil Fund of Azerbaijan (SOFAZ) allocated more than $1.23 billion or 1.53 million Azerbaijani manats for the Southern Gas Corridor (SGC) project in 2014-2016, says a report on the activity of Azerbaijan’s Cabinet of Ministers in 2016.

The report says that in 2016, in order to finance the Azerbaijani government’s share in the Southern Gas Corridor CJSC, SOFAZ transferred 797.4 million manats ($495.2 million) to the country’s Economy Ministry.

Expenditures for this purpose accounted for 33.9 percent of SOFAZ’s planned budget.

Southern Gas Corridor Advisory Council prioritizes TANAP - ANADOLU AGENCY / DAILY SABAH

BAKU, 24.2.2017

Energy and Natural Resources Minister Berat Albayrak attended the third ministerial meeting of the Southern Gas Corridor Advisory Council in Azerbaijan, where he was welcomed by Azeri President Ilham Aliyev.

In addition to cooperation in the energy sector, the meeting addressed the Southern Gas Corridor, consisting of the South Caucasus Pipeline, the Trans-Anatolian Pipeline (TANAP) and the Trans-Adriatic Pipeline (TAP), which will transport Azerbaijani natural gas to Europe.

President Aliyev stressed the importance of Turkey's high-level representation in the Southern Gas Corridor Advisory Council in the admission at the Haydar Aliyev Center in Baku.

World Bank, Azerbaijan sign TANAP loan - NATURAL GAS WORLD

Source: TANAP

January 16th, 20172:20pmAzerbaijan desk 

World Bank and the the government of Azerbaijan January 16 signed a $400mn loan agreement funding the TransAnatolian gas pipeline (Tanap) that will deliver Caspian gas to Turkey and Europe.

Tanap, part of the southern gas corridor project (SGC), will transport natural gas from the Shah Deniz field in Azerbaijan to and across Turkey, and further to Europe, aiming to diversify Azerbaijan’s gas export markets and improve the security of the energy supply in Turkey and southeastern Europe, the bank said.

Besides Tanap it includes the development of the Shah Deniz 2 field; an expansion of the South Caucasus pipeline across Azerbaijan and Georgia to Turkey; and the TransAdriatic pipeline (TAP), which carries the gas through Greece and Albania and under the Adriatic Sea to southern Italy.

Construction continues in the Southern Gas Corridor - WORLD PIPELINES

Friday, 30 December 2016 13:00
Anna Nicklin

The European Commission’s Southern Gas Corridor initiative consists of three key pipelines to supply gas from Caspian regions to Europe, with an overarching aim of securing Europe’s gas supply.

This programme has seen the construction of the Trans Anatolian natural gas pipeline (TANAP) and Trans Adriatic pipeline (TAP) pipelines, the expansion of the South Caucasus pipeline, and the development of the Shah Deniz 2 gas field.

This article provides a brief overview of recent events relating to the TANAP and Trans Adriatic pipeline TAP projects.

Southern Gas Corridor already raised over 50% of money needed until 2020 - ABC.AZ

23.12.2016 16:40
Baku, Fineko/abc.az.

CJSC Southern Gas Corridor (CQD/SGC) has already raised more than 50% of financing required until 2020.

SGC general director Afghan Isayev has stated that out of $11.9 bn on which the Southern Gas Corridor should be financed in 2014-19, it has been already raised $6 bn, including $2 bn in 2016.

He pointed out that the Asian Development Bank has given a loan for 15-year period under governmental guarantee for $500 million and $526 million under 15-year guarantee on syndicated lending. The International Bank for Reconstruction & Development (IBRD), part of the World Bank Group gave $400 million for 30-year term and the Multilateral Investment Guarantee Agency (MIGA), another member of the Group, provided $750 million of guarantees for syndicated lending for 15-year period. In turn, the Asian Infrastructure Investment Bank (AIIB) gave a loan in the amount of $600 million for 30 years.

Azerbaijan: US should be at SGC consultative council meeting - TREND NEWS

6 December 2016 16:25 (UTC+04:00)
Baku, Azerbaijan
Maksim Tsurkov

Azerbaijan’s Energy Minister Natig Aliyev noted the importance of the United States’ representation at a high level at the 3rd consultative council of ministers on the Southern Gas Corridor project in order to give political support to the project, the Azerbaijani Energy Ministry said in a message Dec. 6.

Aliyev made the remarks during his meeting with William Silkworth, office director at Bureau of Energy Resources of the US State Department, according to the message.

During the meeting, the US side expressed interest in Azerbaijan’s position on the eve of the OPEC meeting in Vienna.

SGC most important project for BP - TREND NEWS AGENCY

13 October 2016 19:06 (UTC+04:00)
Baku, Azerbaijan, Oct. 13

By Orkhan Quluzade – Trend:

The Southern Gas Corridor (SGC) is the most important project for BP, Tufan Erginbilgic, BP’s downstream chief executive, told reporters Oct. 13 on the sidelines of the 23rd World Energy Congress in Istanbul.

Erginbilgic said the project worth $45 billion is important both for BP and the energy market.

“The Southern Gas Corridor project has already been implemented by 83 percent,” he noted, adding that the Trans Anatolian Natural Gas Pipeline’s (TANAP) construction is being carried out in line with the schedule.

He reminded that BP has a 20-percent share in the Trans Adriatic Pipeline (TAP).

Southern Gas Corridor 'on track in difficult environment' - NATURAL GAS WORLD

September 26th, 2016
By Drew Leifheit

Scalability is a key part of the Southern Gas Corridor (SGC), a major new transportation route that will bring gas from the BP-operated Shakh Deniz 2 project. The first line is to carry just 10bn m³/yr beyond Turkey but a second, also of 16bn m³/yr, is planned, once gas can be found to flow through it. The project was discussed at a panel discussion at the Atlantic Council last week and note taken of the challenges it faces in today's environment.

The line will bring natural gas from the Caspian region into Europe, posing a threat to Russia's regional dominance in countries with no real alternative supplies.

A senior BP official responsible for the SGC, Joe Murphy, called it “absolutely paramount” to bring gas from other resources through the pipeline. “We need double the gas. The next cheapest gas will be Azeri gas, and there's nothing to say that we can't in the future bring Turkmenistan gas through the Southern Corridor, but at the moment we see that's politically very sensitive."

Southern Corridor gas pipeline is on schedule, BP official says - OIL & GAS JOURNAL

WASHINGTON, DC, 09/22/2016, By Nick Snow, OGJ Washington Editor

The Southern Corridor natural gas pipeline system, which aims to transport gas 2,175 miles from the Caspian Sea to southern Europe, is on schedule and expected to come in under budget, a BP PLC official told an Atlantic Council forum on Sept. 21.

“There still are potential technical delays that remain for this project,” said Joe Murphy, Southern Corridor vice-president for BP’s Azerbaijan-Georgia-Turkey operations. “This economic environment is different from when the partners signed the contracts, but if we can continue meeting deadlines on time, the project will be economic.”

Its three main challenges are getting regional permits in Italy, acquiring land in Greece and Albania, and potential technical delays, he said during a discussion of the project which actually involves three pipelines:

Baku eyes $30-50bn profit from Southern Corridor - NATURAL GAS EUROPE

June 21st, 2016 11:10am

Azerbaijan is hoping in the best case for profits in excess of $50bn from the Southern Gas Corridor (SGC). State oil company Socar told NGE June 20 that even the gloomiest outlook showed that Azerbaijan’s share in the profit of SGC would be at least $30bn over the 25 years' duration of the sales and purchase agreements.

SGC is a project consisting of the development of Shah Deniz gas field stage 2 (SD2), including the South Caucasus Pipeline Expansion (SCPX), as well as the Trans-Anatolian Natural Gas Pipeline (Tanap) and Trans Adriatic Pipeline (TAP).

Azerbaijan has 16.7% share in Shah Deniz project, 58% in Tanap and 20% in TAP. The total costs of the implementation of SGC is expected to reach $39.1bn, of which about $9bn would be invested by Azerbaijan. “In return, the country is expected to earn $30bn-$50bn from SGC, depending on oil prices and additional incomes from transiting the other suppliers’ gas through SGC,” Socar said.