STAR refinery to help Turkey save about $1.5B annually: ministry
Baku, Azerbaijan, Oct. 19
By Rufiz Hafizoglu - Trend:
The commissioning of the STAR refinery will allow Turkey save $1.5 billion annually, the Ministry of Energy and Natural Resources of Turkey told Trend.
The ministry noted that this project is one of the most important energy projects in Turkey.
The ministry also noted that the STAR refinery will meet 25 percent of Turkey’s demand for petroleum products.
The STAR refinery will produce naphtha, diesel with ultra-low sulfur content, aviation fuel, petroleum coke, liquefied gas and other products. The refinery will not produce gasoline and fuel oil.
The plant is planned to process oil of such grades as Azeri Light, Kerkuk and Urals.
The refinery's processing capacity will amount to 10 million tons per year.
Today, the share distribution in the project is as follows: 60 percent of shares are owned by the Rafineri Holding (being in 100-percent possession of SOCAR Turkey Energy), which previously bought 18.5 percent of the participation interest of Turcas Petrol in the project, and 40 percent of shares are owned by SOCAR.
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