“Under the new conditions, the project ceases to be as interesting to us as it was,” Mammadov said. “Therefore, we are ready to work together with the Greek government and offered them a compromise. We are currently interested in the project, but it must be also reasonable from a commercial point of view, and under the new conditions, SOCAR may not be quite ready for privatization.”
Mammadov added that SOCAR expects to get Greece`s counteroffer.
"The Greek government has been informed about our position,” he said. “If it is interested in completing the process, it has to show it.”
“We do not intend to apply to the court, but there is a probability that we will have to abandon this project,” he added. “SOCAR is ready to fulfill all its commitments but on the same terms.”
“The warranty letter of the tender will expire on Sept. 30,” he said. “It is a simple procedure to extend it, but at present, we do not see enough reasons to do that. At the same time, SOCAR hopes for a compromise in this issue."
He added that according to the preliminary estimates, at new tariffs the Greek company loses 40-50 percent of its value.
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