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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:
Lesson
The partial credit guarantee (PCG) modality was a good choice for this transaction. It enabled ADB sovereign operations to come as close as possible to enabling the IA to obtain commercial financing for a commercially viable project in a country with a below-investment-grade rating. With a One ADB approach, it showed the way to achieve close and collaborative work between ADB’s sovereign and nonsovereign departments. Its 95% cover was important because it facilitated the raising of commercial finance.

Project Number: 49451-002
Project Name: Shah Deniz Gas Field Expansion Project
Report Date:
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
Early risk identification and remediation can reduce the impacts of cofinancing cancellation.

Project Number: 38164-013
Project Name: Natural Gas Access Improvement Project
Report Date:
Lesson
A detailed risk assessment that results in the implementation of appropriate mitigation measures is essential to the success of projects.

Project Number: 38164-013
Project Name: Natural Gas Access Improvement Project
Report Date:
Lesson
ADB needs to be more proactive in ensuring project compliance to financial audit requirements.

Project Number: 38164-013
Project Name: Natural Gas Access Improvement Project
Report Date:
Lesson
Tight timelines can undermine actual project outcomes.

Project Number: 38164-013
Project Name: Natural Gas Access Improvement Project
Report Date:
Lesson
Reliance on overly optimistic time targets indicated in project proposals can result in unnecessary strain.

Project Number: 38164-013
Project Name: Natural Gas Access Improvement Project
Report Date:
Lesson
Thorough technical due diligence and robust cost estimates enable better procurement and projectimplementation.

Project Number: 35242-013
Project Name: Gas Transmission and Development Project
Report Date:
Lesson
Optimal utilization of project benefits and assets requires the timely implementation of associated interventions in other projects and a reliable forecast of demand and supply during project preparation.

Project Number: 35242-013
Project Name: Gas Transmission and Development Project
Report Date:
Lesson
Advance actions on land acquisition will make the resettlement process more efficient.

Project Number: 35242-013
Project Name: Gas Transmission and Development Project
Report Date:
Lesson
Dialoguing to better understand existing regulations and policies is vital to ensuring project compliance with government requirements.

Project Number: 49232-001
Project Name: Beijing-Tianjin-Hebei Air Quality Improvement-Hebei Policy Reforms Program
Report Date:
Lesson
Policy action recommendations need to be backed by adequate technical and economic due diligence, including feasibility studies.

Project Number: 49232-001
Project Name: Beijing-Tianjin-Hebei Air Quality Improvement-Hebei Policy Reforms Program
Report Date:
Lesson
A realistic policy framework with manageable policy actions is needed to implement air quality reforms.

Project Number: 49232-001
Project Name: Beijing-Tianjin-Hebei Air Quality Improvement-Hebei Policy Reforms Program
Report Date:
Lesson
Strong commitment and coordination among development partners make the attainment of policy reforms more feasible.

Project Number: 49232-001
Project Name: Beijing-Tianjin-Hebei Air Quality Improvement-Hebei Policy Reforms Program
Report Date: