Sahil Babayev: SOCAR could fund gas network expansion in Azerbaijan

Expansion of Azerbaijan's gas distribution network could be financed through SOCAR's available funds or investment resources, Finance Minister Sahil Babayev said.

Report informs that Babayev was speaking at today's meeting of parliament's Committee on Economic Policy, Industry and Entrepreneurship, devoted to discussions on the 2027 budget package.

He said the draft state budget currently contained no allocation for gas network expansion.

The minister noted that if the government deemed such funding appropriate, it would be included in the state investment program as a separate expenditure item.

"A total of 5.3 billion manats ($3.12 billion) has been earmarked for the state investment program in the budget. The government will allocate these funds according to its priorities. Gas network expansion could be financed through the State Oil Company's available funds or investment resources.

"We expect a clearer picture to emerge toward the end of the year as the investment program takes shape," Babayev said.