The BTC CO Committee of Directors plans to hold a meeting in Baku on 13 April 1to discuss the implementation of the project on construction of the Baku-Tbilisi-Ceyhan export pipeline and possible increase of expenses related to delay in its impelemtation, Trend reports citing Samir Sharifov, the head of the State Oil Fund of Azerbaijan (SOFAR).
If the participants of the project decide to increase expenses, SOFAR will address to the government on increase of expenses for financing of Azerbaijans share, he said. At present Azerbaijan owns 25% in the project, including 70% falling to the state and 30% - SOCAR. SOFAR finances the share of the state. 38m AZN was supposed to be allocated for these purposes in 2006.
The completion of the construction of the pipeline in the territory of Turkey is one responsibility of Botas, but some delay is observed in this issue that can lead to increase of expenses.