SOFAZ announces plans to finance gas transportation projects

The State Oil Fund of the Republic of Azerbaijan (SOFAZ) is preparing to finance the state's share of the Trans-Anatolian pipeline (TANAP), and it may potentially finance Nabucco West and the Trans-Adriatic Pipeline (TAP), which will ensure the supply of Azerbaijani gas to Europe, Trend reports.

This was stated on the official website of "New Europe", with reference to executive director of SOFAZ Shahmar Movsumov.

"We're going to start funding the state's share in the TANAP project. The discussion of this matter is at the preliminary stage. We have not yet determined the size of our share in the project, costs and other details," Movsumov said.

Addressing a question on the possibility of participation of SOFAZ in financing of the TAP or Nabucco projects, Movsumov replied: "Potentially, yes. But it's just talks. There is nothing concrete at this stage."

Adapted from: Vestnik Kavkaza


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