ADB Supports $1 Billion Financing to Expand Southern Gas Corridor

The Asian Development Bank (ADB) has reported it will provide $1 billion in private and public sector assistance to expand Azerbaijan’s Shah Deniz II, one of the world’s largest gas fields. 

The assistance comprises a $500 million private sector loan to the Southern Gas Corridor Closed Joint Stock Company (SGC) and a $500 million sovereign-counterguaranteed partial credit guarantee. The guarantee will back $526 million in commercial loans made by a consortium of international ........