15:40 - 5.07.2021

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July 5, Fineko/abc.az. The net profit of pipeline consortium TANAP Natural Gas Transmission Company (operator for the construction and operation of Trans-Anatolian Gas Pipeline, TANAP) in 2020 amounted to $159.396 million against net loss of $145.827 million a year earlier.

ABC.AZ reports that this data is provided in the materials of Canub Qaz Dehlizi CJSC (Southern Gas Corridor).

Consortium's revenues in 2020 reached $682.239 million (a rise of 3.1 times compared with 2019), the cost of sales $133.783 million (a rise of 31%), other income $1.46 million, interest income $353,000.

General and administrative expenses of the consortium in 2020 totaled $192.78 million (a rise of 2.6 times), financial expenses $197.549 million (a rise of 6.5%). The net loss from the exchange rate difference in 2020 amounted to $550,000 (a rise of 2.6 times).

The assets of TANAP Natural Gas Transmission Company at the end of 2020 are estimated at $6.7 bn (decline of 0.5%), including short-term assets $141.516 million and long-term assets $6.56 bn.