He added that increase of SOCAR’s assets in Turkey means extension of SOCAR Turkey: “You know that we sold 13% share in TANAP for $1.3 bln. These funds will be directed to repayment of SOCAR’s credits and financing of projects”.
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SOCAR: Selling 7% of our stake will solve funding problem
14 September 2015
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SOCAR will sell 7% of its share in TANAP to SOCAR Turkey Energy, SOCAR President Rovnag Abdullayev said.
“Purchase of a stake by SOCAR Turkey Energy in TANAP is a correction in the system for solution of funding problem. Today, SOCAR has 58% stake in TANAP. We sell 7% to SOCAR Turkey Energy to solve the funding problem”, Abdulayev said.
He added that increase of SOCAR’s assets in Turkey means extension of SOCAR Turkey: “You know that we sold 13% share in TANAP for $1.3 bln. These funds will be directed to repayment of SOCAR’s credits and financing of projects”.
He added that increase of SOCAR’s assets in Turkey means extension of SOCAR Turkey: “You know that we sold 13% share in TANAP for $1.3 bln. These funds will be directed to repayment of SOCAR’s credits and financing of projects”.
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