SOCAR intends to begin construction of refinery in Turkey in 2011
Azerbaijan, Baku, June 3 / Trend E.Ismayilov /
The State Oil Company of Azerbaijan Republic (SOCAR) plans to begin construction of a refinery in Turkey near the petrochemical complex Petkim in 2011, SOCAR President Rovnag Abdullayev said. SOCAR is a Petkim co-owner.
Abdullayev said the company's biggest activity in Turkey is a petrochemical complex Petkim, and now all works are carried out in the direction of the construction of the refinery needed to ensure the complex with raw material.
All work on the preparation of documentation has been completed and SOCAR waits for a license from the Turkish government for the beginning of work.
"We will begin work on the detailed engineering immediately after receiving the license. Most likely, we will begin to build the refinery in 2011," Abdullayev said.
The plant's capacity will be 10 million tons per year. Approximately 30-40 percent of the plant's production will be used as feedstock for the petrochemical industry. The remainder part, in particular diesel fuel and other energy will be sold in the markets of Turkey and Europe, he added.
Abdullayev also noted that SOCAR has received offers to start retail sales of fuel by creating its own network of filling stations in Turkey. But now the issue is not relevant to the company, Abdullayev said.
Earlier, the company completed the feasibility study on building the refinery. Earlier the Turkish government also approved a report on its environmental impacts, which is required for construction.
The Turkish Administration for Privatization approved the SOCAR/Turcas Petrol/Injaz Projects alliance as the winner of a tender on the sale of a 51-percent share in Petkim. Turkey imports 70-75 percent of its chemical products, while Petkim will ultimately provide the chance to decrease imports to 30 percent.
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