SCP

State Oil Company of the Azerbaijan Republic (SOCAR) is fully owned by the state and its rating is equalised with that of Azerbaijan (BB+/Stable) under Fitch Ratings’ Government-Related Entities (GRE) Rating Criteria. This is underpinned by state support provided to the company in the form of financial guarantees, cash contributions and equity injections, as well as SOCAR’s social functions and its importance as a state vehicle for the development of oil and gas projects.

The Southern Gas Corridor constitutes a new reality, stated Péter Szijjártó, Hungarian Minister of Foreign Affairs and Trade, as saying.

“I congratulate everyone on the commencement of gas supply from the Shah Deniz field to the European Union through the Southern Gas Corridor pipeline system,” said Natia Turnava, Georgia’s Minister of Economy and Sustainable Development, reports 1tv.ge .

According to her, the project is crucial for strengthening Georgia’s energy independence.