Authorized capital of closed-type joint stock company created to implement gas projects in Azerbaijan to be tripled
Azerbaijan State Securities Committee said that Canub Qaz Dehlizi (Southern Gas Corridor) closed-type joint stock company (JSC) will triple its authorized capital up to $300 million.
According to the statement posted in press, increase in authorized capital of the JSC will be done through converting of the shares face value. In particular, the face value of shares will be increased from $1 to $3 million. The authorized capital is divided into 100 shares. At present authorized capital of Canub Gaz Dehlizi is equal $100 million.
Canub Qaz Dehlizi JSC was established on February 25, 2014 for efficient management of state assets in the Shah Deniz Phase 2 project, expansion of the Southern Caucasian gas pipeline and construction of TANAP and TAP gas pipelines. SOCAR’s share in the capital of JSC constitutes 49%, while state – 51%. Share of the state is funded through the Oil Fund of Azerbaijan on condition of return.—0--
Economics
-
Azerbaijan is set to significantly increase the proportion of electricity generated from renewable sources, currently standing at 14.4%, Deputy Economy Minister Samad Bashirli announced on Thursday at the Think Tanks Forum of the Organization of Economic Cooperation (OIC) held in Baku.
-
Azerbaijan has entered into a partnership with Italian energy firm Technip Energies SpA to implement a pyrolysis oil production project aimed at enhancing waste recycling and promoting sustainable development, officials said on Tuesday.
-
Belarus and Azerbaijan signed multiple cooperation agreements on Tuesday following talks between Belarusian Prime Minister Roman Golovchenko and Azerbaijani Prime Minister Ali Asadov during Asadov’s official visit to Minsk on October 3.
-
Azerbaijan's state borrowings continue to increase, despite the country still benefiting from high global oil prices. The Ministry of Finance of Azerbaijan reported that as of the first half of 2024, the country's state debt amounted to 25 billion manats, which corresponds to 21% of its Gross Domestic Product (GDP).
Leave a review