Major shortfalls found in Azeri gas supplier
Azerbaijan’s Accountancy Chamber has discovered major shortfalls in
the state-controlled gas supplier Azerigas, its chairman has
said.
Heydar Asadov told reporters in parliament Tuesday that the audits conducted at the company cover the period prior to its transfer to the state energy firm SOCAR. The chamber scrutinized Azerigas’ investment projects, particularly its gas supplies to the settlements outside the capital Baku.
Asadov said the shortfalls included work with low-rated enterprises registered in offshore zones and irregularities in conducting tenders. Tens of employees have been dismissed from the company due to the violations.
Azerigas was transferred to SOCAR in 2009 and is currently operating as the Azerigas Production Association under the state oil company.
Also, the Accountancy Chamber has started check-ups in the State Oil Fund (SOFAR), the body that holds proceeds from the exports of oil. A group of auditors has been working at the Fund for five days. The audits, which cover operations over the past three years, aim to examine the flow of funds, the composition of SOFAR’s portfolio, its currency structure, etc.*
Heydar Asadov told reporters in parliament Tuesday that the audits conducted at the company cover the period prior to its transfer to the state energy firm SOCAR. The chamber scrutinized Azerigas’ investment projects, particularly its gas supplies to the settlements outside the capital Baku.
Asadov said the shortfalls included work with low-rated enterprises registered in offshore zones and irregularities in conducting tenders. Tens of employees have been dismissed from the company due to the violations.
Azerigas was transferred to SOCAR in 2009 and is currently operating as the Azerigas Production Association under the state oil company.
Also, the Accountancy Chamber has started check-ups in the State Oil Fund (SOFAR), the body that holds proceeds from the exports of oil. A group of auditors has been working at the Fund for five days. The audits, which cover operations over the past three years, aim to examine the flow of funds, the composition of SOFAR’s portfolio, its currency structure, etc.*
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