BAKU, Azerbaijan, Sept.5. Total assets of the Southern Gas Corridor closed joint-stock company (CJSC) stood at $12,672,722,000 as of December 31, 2021, compared to $12,676,671,000 in 2020, showing a 0.03 percent decrease, Trend reports via the company.
Total non-current assets dropped by 2.7 percent from $12,180,822,000 in 2020 to $11,852,938,000 in 2021. Total current assets rose by 65.3 percent from $495,849,000 to $8189,784,000.
SGC was founded on 31 March 2014 by the State (the Ministry of Economy of Azerbaijan Republic) (51%) and SOCAR (49%).
All of SOCAR’s participating interests in the SGC projects were transferred to SGC, which undertook onward financing of these participating interests (the completion of the transfer of 14.35% stakes in Shah Deniz and South Caucasus Pipeline projects will take place in 2023 subject to the fulfilment of certain conditions precedent).
---
Follow the author on Twitter: @Lyaman_Zeyn