BAKU, Azerbaijan, Sept.5. The revenues of the Southern Gas Corridor closed joint-stock company (CJSC) stood at $1,763,092,000 as of December 31, 2021, as compared to $861,551,000 in 2020, showing 2.05 times increase, Trend reports with reference to the company.
Reportedly, the company’s revenues from the sale of natural gas and crude oil amounted to $382,840,000 and $135,093,000, respectively, versus $137,418,000 and $55,659,000 in 2020.
Southern Gas Corridor CJSC saw an increase in revenues from Azerbaijan, which stood at $522,345,000 as of 2021, compared to $197,960,000 in 2020. Revenues from Georgia and Türkiye amounted to $2,173,000 and $1,238,574,000, respectively in 2021, versus $2,405,000 and $661,186,000 last year.
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).