CJSC creation for an efficient management of “Shah-Deniz”
Edited by Rhod Mackenzie / 2014-02-26 01:15:40
On February 25, 2014 the president of Azerbaijan has signed a decree on a creation of a close joint stock company for an efficient projects management of the second stage of development of Shah-Deniz, expansion of the South Caucasus pipeline, TAP and TANAP pipelines. 51% belongs to Azerbaijan, 59% to SOCAR.
The registered capital of the company makes up $100 million. The company is also to transfer the participation share in the projects to the newly-created CJSC.
SOCAR is to provide the financing of a participation share in CJSC, which is in direct ownership of the state.
