Azerbaijani Energy Minister: Implementation of Southern Gas Corridor will cost $40 billion

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Baku, June 2, AZERTAC

"The work to be done on the Southern Gas Corridor project will cost $40 billion," Azerbaijan's Minister of Energy Natig Aliyev has told journalists.

He noted that in the current environment on the oil market the price of the materials used in the construction of the pipelines decreased. “And this naturally means lower spending on the Southern Gas Corridor project.”

"Trans-Anatolian gas pipeline (TANAP) was estimated at $11 billion, however, the funds to be invested in the pipeline construction decreased by $9.3 billion. Re-assessments on the planned expenditures are being carried out on a regular basis. Currently, Shah Deniz-2 and the South Caucasus Pipeline Expansion project are estimated at $ 23.8 billion," Aliyev added.

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