Bank Of Baku

SOCAR: Selling 7% of our stajke in TANAP to SOCAR Turkey Energy will solve funding problem

SOCAR: Selling 7% of our stajke in TANAP to SOCAR Turkey Energy will solve funding problem
# 14 September 2015 10:31 (UTC +04:00)

“Purchase of a stake by SOCAR Turkey Energy in TANAP is a correction in the system for solution of funding problem. Today, SOCAR has 58% stake in TANAP. We sell 7% to SOCAR Turkey Energy to solve the funding problem”, Abdulayev said.  

 

He added that increase of SOCAR’s assets in Turkey means extension of SOCAR Turkey: “You know that we sold 13% share in TANAP for $1.3 bln. These funds will be directed to repayment of SOCAR’s credits and financing of projects”.

 

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