TODAY.AZ / Business

SOCAR to finance construction of Igdyr-Nakhchivan gas pipeline

13 August 2009 [12:18] - TODAY.AZ
The State Oil Company of the Azerbaijani Republic (SOCAR) will cover all expenses for construction of the Igdyr-Nakhchivan pipeline to be laid from Turkey to Azerbaijan under the relevant memorandum signed earlier, head of SOCAR Rovnag Abdullayev said.
"Under the Azerbaijan-Turkey memorandum, Turkey undertakes obtaining permission for constructing gas pipeline and approving the project. In turn, SOCAR undertakes financing and construction of the pipeline," Abdullayev said.

The next week SOCAR Technical Group will visit Ankara to discuss with Botas (a state pipeline company of Turkey) the construction of the pipeline, its design and permission for its construction, he said.

The construction of the new gas pipeline is important for ensuring energy security of Nakhchivan. Currently, gas is transported to Nakhchivan on the basis of SWAP operations through Iran.

/Trend Capital/
URL: http://www.today.az/news/business/54626.html

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