Aliyev's Decree Grants SOCAR Controlling Rights in Southern Gas Corridor
On December 10, Azerbaijani President Ilham Aliyev amended the 2014 decree on the second stage of the Shah Deniz gas-condensate field operation and the establishment of the Southern Gas Corridor.
Under the amendment, the Ministry of Economy's share in the Southern Gas Corridor CJSC was reduced from 51% to 49%, while SOCAR's share increased to 51%. This change grants SOCAR control over the company's management, enabling the full consolidation of Southern Gas Corridor CJSC's financial results in SOCAR's financial statements.
The Ministry of Economy was instructed to take the necessary measures to address issues arising from the decree, which was enacted on the day of its signing.
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