Baku, Azerbaijan, Dec.20
By Leman Zeynalova – Trend:
Azerbaijan’s state oil company SOCAR is reviewing further investment opportunities in Turkey, SOCAR told Trend.
“Next year alongside the commissioning of our major downstream projects in Azerbaijan, such as SOCAR Polymer and SOCAR Carbamide, we’re also reviewing further investment opportunities in Turkey,” said the company.
SOCAR said that the major new project in question is a possible construction of the new PTA (purified terephthalic acid) complex at Aliaga, adjacent to Petkim and STAR.
“It can be fed by reformate, directly from STAR refinery, which would create an important comparative advantage. PTA is the main feedstock for polyester production in Turkey. The major part of the PTA demand in Turkey is currently met by imports. Hence we are aiming at the Turkish market in the first place, where our future production would substitute the PTA imported from abroad,” said the company.
If the investment decision on the PTA facility will be made next year, the commissioning would be possible as early as the end of 2022, according to SOCAR.
Further, the company said that in the coming year, it is planning to commission TANAP, including its remaining part.
“This will allow us to start supplying gas to Europe through TANAP by the beginning of 2020, when the TAP is set to be completed. Currently more than 98 percent of TANAP has been completed (including both phases),” said SOCAR.
A ceremony to launch TANAP took place June 12 in the Turkish city of Eskisehir.
TANAP, together with Trans-Adriatic Pipeline (TAP), is a part of the Southern Gas Corridor, which provides for the transportation of gas from the Azerbaijani field Shah Deniz to Europe.
The initial capacity of TANAP is expected to be 16 billion cubic meters of gas per year. About six billion cubic meters will be supplied to Turkey, and the rest to Europe. After completion of the TAP, the gas will reach Europe in early 2020.
The share distribution in TANAP is as follows: Southern Gas Corridor CJSC - 51 percent, SOCAR Turkey Enerji - 7 percent, Botas - 30 percent, and BP - 12 percent.
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