Shahmar Movsumov: No problem with funding Azerbaijan’s part of SGC project

Baku. 18 April. REPORT.AZ/ “There isn’t any problem with funding of Azerbaijan’s part of Southern Gas Corridor aiming at delivering Azerbaijani gas to Europe.”

Report informs, CEO of the State Oil Fund of Azerbaijan Republic (SOFAZ) Shahmar Movsumov told at today's press conference in SOFAZ's headquarters.

According to him, they made no spending in this direction in quarter I: “But there is such item in Fund’s expenditures. It is not yet clear if this amount will be used or not. I can assure you that all funds necessary for this project are at disposal of "Southern Gas Corridor" CJSC”.

“We will not have any problem with funding of project in 2017. Necessary talks will be completed by the year end. Necessary funding sources for next two years will be determined. Contracts will be signed and approved by observation council. As a whole, we don’t see any problem with funding of the SGC project”, he stated.