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Sovereign Wealth Funds Briefing - Categorized | Investment

Oil Fund: Southern Gas Corridor to demand from Azerbaijan $2.5 bln of annual investment until 2019

Posted on 13 March 2014

The State Oil Fund of Azerbaijan (SOFAZ) begins forming the capital of the state company on the management of the Southern Gas Corridor project. SOFAZ executive director Shahmar Movsumov says that now the Fund’s Supervisory Board is considering a change in the SOFAZ budget for 2014 for payment of the capital of this company.
“$51 million to be financed for the gas project management company will be directed for the formation of its capital. These finances have not been envisaged in the Oil Fund’s budget, and will be directed as long-term investments,” Movsumov said………………………………………..Full Article: Source


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