BAKU, Azerbaijan, Dec.12
By Fidan Babayeva - Trend:
Azerbaijan is investing in the alternative energy sector of Turkey, especially in the development of the Petkim wind power plant, Analyst of the Center for Analysis of Economic Reforms and Communications (CAERC) Amina Bayramova said, Trend reports citing the CAERC.
With the commissioning of Petkim, carbon emissions in the Turkish port of Aliaga in Izmir province have decreased by 120,000 tons, and the power generation capacity has increased by 22 percent, the center analyst said.
She noted that besides the production and processing in the energy sector, the State Oil Company of Azerbaijan (SOCAR) has significant investments in Turkey related to distribution, transportation, and development of communication systems.
The best example of this is the creation of projects such as the SOCAR terminal, Petkim, SOCAR Distribution, and SOCAR Deposit, the largest terminal in the Aegean region with a capacity of 1.5 million TEU containers per year.
The trade turnover between Turkey and Azerbaijan in October 2020 increased by $87.2 million compared to the same month of 2019, reaching $264.4 million.
From January through October 2020, the trade turnover between Turkey and Azerbaijan increased by over $201.5 million compared to the same period last year, totaling $1.81 billion.