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Rovnag Abdullayev: â€œ30% of the Southern Gas Corridor has already been completedâ€

21 July 2015 10:15 (UTC +04:00)

According to him, contracts in the worth of $10 bln have already been signed with 162 suppliers from 23 countries, over 9,500 persons are working on the project: “Drilling of 7 underwater wells in Shahdeniz field has been completed and it’s ready to transport first gas to Europe. Construction of copmlressor station and pipelines in Georgia rapidly continues”.

Azerbaijani President Ilham Aliyev signed an order on establishment of Closed Joint-Stock Company for profitable development of Shah Deniz-II gas and expansion of TAP and TANAP. Authorized capital of the CJSC makes $100 mln.

SOCAR has 49% stake in this authorized capital, state – 51%. SOFAZ will provide funding of state’s participation in the CJSC. Funds are given to the CJSC as long-term investments to be repaid.