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Current liabilities of TANAP A.Ş. grow significantly

Gas Materials 6 September 2022 12:01
Baku, Azerbaijan Trend News Agency Leman Zeynalova
Current liabilities of TANAP A.Ş. grow significantly

Current liabilities of TANAP Natural Gas Transmission Company (TANAP A.Ş.) stood at $ 1,294,918,000 in 2021, compared to $ 968,870,000 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 liabilities grew by 33.6 percent year-on-year.

Among current liabilities, trade and other payables and accrued liabilities amounted to $51,459,000, current portion of the long-term borrowing stood at $1,237,621,000, inventories and Current portion of lease liability made up $5,838,000.

Non-current liabilities dropped from $2,777,445,000 in 2020 to $1,625,108,000 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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