Home / Economy / Black Sea Trade & Development Bank Ready to Finance Southern Gas Corridor

Black Sea Trade & Development Bank Ready to Finance Southern Gas Corridor

The Black Sea Trade and Development Bank (BSTDB) is interested in financing the Southern Gas Corridor project, said BSTDB President Ihsan Ugur Delikanli.

He made the remarks in Baku June 13 at an event dedicated to presentation of the bank’s opportunities for business and banking sector of Azerbaijan.

“I hope that the Azerbaijani government and other partners will consider our participation in the Southern Gas Corridor project and a positive decision will be made,” said Ihsan Ugur Delikanli.

The Southern Gas Corridor envisages the transportation of gas from the Caspian Sea region to the European countries through Georgia and Turkey.

At the initial stage, the gas to be produced as part of the Stage 2 of development of Azerbaijan’s Shah Deniz field is considered as the main source for the Southern Gas Corridor project. Other sources can also connect to this project at a later stage.

As part of the Stage 2 of the Shah Deniz development, the gas will be exported to Turkey and European markets by expanding the South Caucasus Pipeline and the construction of Trans-Anatolian Natural Gas Pipeline (TANAP) and Trans-Adriatic Pipeline (TAP).

The Black Sea Trade and Development Bank was created by Albania, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Armenia, Romania, Turkey, Ukraine and Russia, the bank’s authorized capital totals 3.45 billion euros. Until today, the BSTDB has allocated 360 million euros for implementation of 40 projects in Azerbaijan.