"There is no danger (for the project)," Aliyev told reporters. "There will be no problems with payments. Azerbaijan is following its financing obligations."
135
SOCAR Needs Money
Azerbaijan's state oil company SOCAR has to borrow
Azerbaijan?s state oil company SOCAR has to borrow more money from international creditors to finance its part of the giant Azeri-Turkish oil pipeline due to cost overruns.
Despite the funding shortfall Azeri President Ilham Aliyev and project leader BP said the pipeline will be completed on schedule next year.
"There is no danger (for the project)," Aliyev told reporters. "There will be no problems with payments. Azerbaijan is following its financing obligations."
The cost of building the pipeline that will deliver oil from the Azeri-Chirag-Gunesli oil fields in the Caspian Sea to the Mediterranean port of Ceyhan has overshot the original budget of $3.6 billion by 5-7 percent, a SOCAR official said.
"There is no danger (for the project)," Aliyev told reporters. "There will be no problems with payments. Azerbaijan is following its financing obligations."
Подпишитесь
