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SGC ends 2016 on loss of AZN 98M


In 2016 SOCAR made additional contributions in share capital of its associates, South Caucasus Pipeline Company (SCPC) and Southern Gas Corridor (SGC) in the amount of AZN 104 (2015: AZN 107) and AZN 693 (2015: AZN 665), respectively.

 

According to the consolidated report on SOCAR financial activities in 2016, the SCPC’s profit in 2016 amounted to AZN 324 million, of which AZN 32 million went to SOCAR.

 

Baku-Tbilisi-Ceyhan’s (BTC Co) profit amounted to AZN 815 million, SOCAR’s share stood at AZN 206 million.
 

The SGC’s loss stood at AZN 98 million and consequently, SOCAR lost AZN 49 million. 

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