SOFAZ clarifies matter of Shah Deniz revenue reduction


March 5, Fineko/abc.az. Within the framework of the project of the development of Shah Deniz gas condensate field in the Azerbaijani sector of the Caspian Sea, there are certain agreements with various buyers.

According to these agreements, if necessary, the funds for gas purchased within the contracts are compensated at the expense of State's profitable share.

ABC.AZ reports that taking all this into account, in response to a request related to the lack of revenue from the gas project, SOFAZ reported that according to the multilateral agreement signed between the parties, these funds should be returned to the Oil Fund: "Taking all this into account, SOFAZ did not receive income from the sale of gas within the Shah Deniz project for Jan-Feb 2021."