The Closed Joint Stock Company Canub Qaz Dehlizi (Southern Gas Corridor) with 100% government capital in the next year will receive from the Ministry of Finance 1 341 200 000 manat or just over $ 1.7 billion to strengthen the resilience to risks.
As stated in the approved State Budget Act, the amount is provided under the share capital increase. Taking into account the 100 million of the capital base, the charter capital of the JSC will exceed $ 1.8 billion.
The decree on the establishment of the structure was signed by the head of state on February 25 this year. The SOCAR share in the capital of the company is 49% and the share of the state is 51%. JSC Canub Qaz Dehlizi must effectively manage projects of Phase 2 of the development of the gas condensate field Shah Deniz and the South Caucasus gas pipeline extension, as well as the construction of the gas pipelines TANAP and TAP. The money is allocated to it from the State Oil Fund (SOFAR). According to the official version, the funds are provided to the JSC as long-term investments on the conditions of return. --17D-
Economics
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