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SOFAZ projected to receive over AZN 400 million from the SGC project this year

12 January 2026 11:57 (UTC +04:00)

Despite the absence of expected dividends from the Southern Gas Corridor (SGC) project in 2025 and the indication by SOCAR, the project's executing organization, that dividend payments are not envisaged for 2026–2029, the Fund has forecast inflows of 404.4 million manats from the SGC project in the draft budget for 2026, APA-Economics reports.

This is stated in the opinion of the Chamber of Accounts on the State Oil Fund of Azerbaijan’s (SOFAZ) 2026 budget.

In accordance with the implementation of Clause 1.1 of Order No. 287 of the President of the Republic of Azerbaijan dated February 25, 2014, "on relevant measures related to the second stage of the operation of Shah Deniz gas-condensate field and establishment of the Southern Gas Corridor with regard to other projects," the Southern Gas Corridor (SGC) Closed Joint-Stock Company (the Company) was established, with 49 percent of its shares owned by the state and 51 percent owned by SOCAR. Under Clause 4 of the Order, the ownership and management of the shares of the company directly owned by the state are exercised by the Ministry of Economy of the Republic of Azerbaijan, and dividends on these shares are designated to be transferred to the State Oil Fund of the Republic of Azerbaijan (SOFAZ).