Azeri Oil Fund To Help Finance $8B Pipeline Project

Law360, New York (November 6, 2012, 6:01 PM EST) -- The head of Azerbaijan's $33 billion state-run oil fund said Tuesday that the fund has agreed to help finance an $8 billion natural gas pipeline project that will transport gas to European markets, according to media reports.

Shahmar Movsumov, head of the State Oil Fund of Azerbaijan, said in a meeting of the Azerbaijan Parliament that the fund will begin financing the Trans-Anatolian pipeline project, known as TANAP, in 2013, local media reported Tuesday. SOFAZ is a sovereign wealth fund that receives the bulk of its...
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