BAKU, Azerbaijan, July 6. Non-current assets of Azerbaijan-based Southern Gas Corridor closed joint-stock company (CJSC) in Switzerland rose from $264.6 million in 2021 to $396.6 million in 2022, Trend reports.
As such, the company’s non-current assets in this country grew by 1.5 times.
The table below shows the assets of SGC Group in other countries:
|
Year (thousand USD) |
Change (%) |
||
|
Country |
2021 |
2022 |
|
|
Azerbaijan |
4,454,142 |
4,832,324 |
+8.5 |
|
Türkiye |
6,120,651 |
5,963,229 |
-2.6 |
|
Georgia |
466,137 |
480,725 |
+3.1 |
|
Total |
11,305,504 |
11,672,867 |
+3.2 |
On March 31, 2014, the State Oil Company of Azerbaijan Republic (SOCAR) and Azerbaijan's Ministry of Economy jointly established the Southern Gas Corridor (SGC) with ownership shares of 49 percent and 51 percent, respectively.
Later, all of SOCAR's stakes in the SGC projects were transferred to Southern Gas Corridor CJSC.
A significant milestone was achieved on December 31, 2020, when Azerbaijan commenced gas deliveries to Europe through the Southern Gas Corridor. This year, the country has set its sights on exporting 12 billion cubic meters of gas to Europe.
In July 2022, Azerbaijan and the European Union (EU) signed a memorandum of cooperation in the energy sector. The agreement outlines the objective of augmenting gas supplies via the Southern Gas Corridor, aiming to reach 20 billion cubic meters per year by 2027.
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