SCPC's capital expenditures increase by more than 12%

In the first three quarters of 2023, the South Caucasus Pipeline Company (SCPC) spent around $49 million (remained unchanged compared to the same period in 2022) in operating expenditure and about $4.5 million (+$0.5 million, or 12.5%) in capital expenditure in total, according to the business update issued by bp Exploration (Caspian Sea) Limited on the results of the third quarter of 2023, Report informs.

The SCP has been operational since late 2006, transporting Shah Deniz gas to Azerbaijan, Georgia, and Türkiye. The expanded section of the pipeline commenced commercial deliveries to Türkiye in June 2018 and to Europe in December 2020.

During the three quarters, the daily average export throughput of the SCP was 60.5 million cubic meters of gas per day (+$4.4 million cubic meters, or 7.8%).

The South Caucasus Pipeline Company (SCPC) shareholders are: bp (29.99%), SGC (21.02%), LUKOIL (19.99%), TPAO (19.00%), and NICO (10.00%).