SOCAR does not intend to increase its share in Petkim
Azerbaijan, Baku, July 22 / Trend /
SOCAR is not going to increase the share in the petrochemical complex Petkim in Turkey, SOCAR head Rovnag Abdullayev said, Turkish newspaper Hurriyet reported. The alliance between SOCAR and Turcas Petrol / Injaz Projects owns 51-percent stake in the complex.
"About 51 percent of shares is enough for us. We do not intend to increase our share," Abdullayev said.
He said that the work on the construction of a refinery Aliaga-Izmir Petkim will be launched soon.
As to Azerbaijani gas transportation from Shah Deniz field, R. Abdullayev said that a project on development of Shah Deniz is an expensive project. The gas from this field must be sold to Europe for it to be profitable. Our main goal is to sell gas at a more profitable price.
He said that negotiations on the price for transit of gas from Shah Deniz through Turkey will be completed before March 31, 2011.