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SOCAR: Negotiations on financing of SGC started with German companies and banks


“Negotiations with international financial institutions to provide remaining part of funding of the Southern Gas Corridor are underway, SOCAR spokesperson Ibrahim Ahmadov told APA-Economics.

 

According to him, negotiations have been conducted with Germany on funding of Shahdeniz 2 and TANAP and an agreement on providing a guarantee for borrowing of funds up to 1.5 billion was reached at the meeting of Inter Ministries Committee.

 

According to him, agreements on transportation and sale of natural gas were signed with 9 European companies, including German EON (Uniper) in 2013: ‘SGC and German Hermes company and relevant banks started negotiations on terms of the funding. Final terms will be determined after reaching an agreement’.  

 

Ahmadov said that the SGC is a megaproject: ‘As the project is of great importance for both Azerbaijan and Europe, the EU supports implementation of the project. Azerbaijani side has fulfilled ¾ of its financial commitments’. 

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