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Lesson
ADB played an important role in country risk mitigation. ADB’s partial credit guarantee (PCG) to the Southern Gas Corridor Closed Joint-Stock Company (SGC) made possible SGC’s access to necessary private sector refinancing to meet its financial commitments to Shah Deniz Stage II (SD2) and the midstream pipelines. This reduced government dependence on the country’s dwindling oil and gas revenues held by the State Oil Fund of the Republic of Azerbaijan (SOFAZ) to meet expenditure obligations.

Project Number: 49451-002
Project Name: Shah Deniz Gas Field Expansion Project
Report Date:
Lesson
The Shah Deniz Gas Field Expansion Project is transformational. It has expanded the development of one of the largest gas fields in the world, which will help (i) more than double gas production from the field; and (ii) increase the country’s gas production by 67% during the same period. This will help strengthen the Azerbaijani economy and create more fiscal space for economic diversification.

Project Number: 49451-002
Project Name: Shah Deniz Gas Field Expansion Project
Report Date: