SOCAR Vice-President S. Gasymov: new oil and gas project will not negatively influence the company’s rates

The realization of the projects of the second stage of Shakh Deniz gas condensate deposit development, the broadening of South Caucasian gas pipeline, TAP and  TANAP pipelines construction should be regarded in their context, without their negative influence to the company’s rates, SOCAR Vice-President S. Gasymov says. In his opinion, it’s important to remove their negative influence to the company’s rates, and to make their influence only positive. To achieve that, SOCAR has held talks  with Fitch, Moodys and Standard & Poors. They are eager to realize the project with participation of the state. SOCAR has invested up to $50 million to TANAP. The share of Azerbaijan in the project will be financed either via enlargement of authorized capital of SOCAR or via participation of the corresponding state structures in the project.