6/8/2012

Azeri state oil company to invest USD 10 billion in Turkey

Sabah - Azerbaijan's SOCAR plans to invest up to USD 10 billion in energy projects in Turkey over the next eight years, according to the company’s Vice President Suleyman Gasimov.
Speaking at a conference in Baku, Gasimov said the investment total does not include expenses for the new Trans-Anatolian Pipeline Project (TANAP). SOCAR owns a 61 percent stake in Turkey’s largest petrochemical company, PETKIM. The company is building a USD 5 billion refinery at PETKIM site in Aliaga, Izmir.
Turkey; energy market; turkey energy investment; tanap; socar; petkim; turkey refinery