Baku, December 30, AZERTAC

The budget of the State Oil Fund of Azerbaijan (SOFAZ) for 2016 has been approved by the Decree of President Ilham Aliyev on 29 December.

The income of the Fund is projected at 6.7 billion manats, while the expenses are projected at 8.18 billion manats. The State Oil Fund of Azerbaijan Republic will invest 1.82 billion manats in the South Gas Corridor projects in 2016.

The Southern Gas Corridor (SGC) project include the Trans-Anatolian Natural Gas Pipeline (TANAP), the South Caucasus Pipeline (SCP) and the Trans-Adriatic (TAP) projects.