As all of its projects are already commissioned, the Southern Gas Corridor's (SGC) total needs for cash in 2024 will be fully covered by proceeds from the Shah Deniz, South Caucasus Pipeline, TANAP, and TAP projects, along with accumulated cash, according to management's forecast, Report informs, citing Fitch Ratings.
According to the information, SGC's funding at the end of 2023 was a combination of debt ($6.4 billion) and equity ($2.4 billion) injected by the state. SGC did not borrow any new debt in 2020–2023, while about 72% of its total debt stock as of end-2023 comprised bonds issued in favour of the State Oil Fund of the Azerbaijan Republic and Eurobonds, followed by IFI or IFI-backed loans (28%).
https://report.az/en/energy/forecasted-sources-of-funding-for-this-year-s-needs-of-southern-gas-corridor-revealed/