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Sovereign Wealth Funds Briefing - Categorized | Financials, Fund Management/Administration

SOFAZ budget for 2014 to be revised

Posted on 14 March 2014

The 2014 budget of the State Oil Fund of Azerbaijan (SOFAZ) will be revised, due to the formation of a closed joint stock company for effective management of the Shah Deniz projects and gas deliveries to Europe, SOFAZ CEO, Shahmar Movsumov told journalists on March 12.
In February, Azerbaijani President Ilham Aliyev signed a decree on establishment of a closed joint-stock company for effective management of the projects within the second phase of the Shah Deniz gas and condensate field’s development, expansion of the South Caucasus Pipeline, Trans Anatolian Gas Pipeline (TANAP) and Trans Adriatic Pipeline (TAP)………………………………………..Full Article: Source


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