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TANAP A.Ş. sees increase in current assets

Gas Materials 6 September 2022 11:48
Baku, Azerbaijan Trend News Agency Leman Zeynalova
TANAP A.Ş. sees increase in current assets

Current assets profit of TANAP Natural Gas Transmission Company (TANAP A.Ş.) stood at $175,903,000 in 2021, compared to $141,516,000 in 2020, Trend reports with reference to the consolidated financial statements of the Southern Gas Corridor CJSC for the year ended 31 December 2021.

As such, the company’s current assets grew by 24.3 percent year-on-year.

Among current assets, cash and cash equivalents amounted to $11,287,000, trade and other receivables stood at $124,414,000, inventories and other current assets made up $32,562,000 and $7,640,000, respectively.

Non-current assets dropped from $6,562,397,000 in 2020 to $6,394,355,000 in 2021.

TANAP Natural Gas Transmission Company was established to design, construct and operate the Trans Anatolian Natural Gas Pipeline (TANAP) Project, which aims at the transfer of the natural gas, produced on Shah Deniz Phase-II on the Caspian Sea and on the gas fields in the south of the Caspian Sea, Azerbaijan, first to Türkiye and then to Europe over Türkiye.

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