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Sovereign Wealth Funds Briefing - Categorized | Financials

Azeri oil fund to help finance TANAP gas pipeline

Posted on 07 November 2012

Azerbaijan’s $33-billion state oil fund is to help finance the $8 billion Trans-Anatolian natural gas pipeline project (TANAP) to take Azeri gas to Turkey and to markets in Europe, the head of the fund said on Tuesday.
Turkey has a 20 percent stake in TANAP, while Azerbaijan’s state oil company SOCAR holds 80 percent. SOCAR offered BP , Statoil and Total to buy 29 percent of the total from its stake in September………………………………………..Full Article: Source


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