Azerbaijan may raise a loan for Southern Gas Corridor project

Baku. 5 November. REPORT.AZ/ Azerbaijan may attract credit from international financial institutions to finance its stake in the project of the Southern Gas Corridor, designed to ensure delivery of Azerbaijani gas to Turkey and Europe.

Report informs, Deputy Head of SOCAR Investment Department Zaur Gahramanov said.

SOCAR representative said that the company SGC was established in the framework of the project: "The Ministry of Economy and Industry holds a 51% stake in the company, SOCAR - 49%. The company, together with the Ministry of Finance in negotiations with international financial institutions EBRD, IFC, ADB and others in order to attract credit.

"Azerbaijan's share in SGC is 14 bln AZN. If the proposals are beneficial the project can obtain 7 bln USD ", Z. Gahramanov added.