Star Refinery satisfies about quarter of Turkey's refined petroleum product needs - CEO
IZMIR, Turkey, Dec. 1
By Elchin Mehdiyev – Trend:
The Star Refinery satisfies about 25 percent of Turkey's demand for refined petroleum products, the head of the SOCAR Turkey Refinery and Petrochemicals Business Unit, director general of Petkim petrochemical complex Anar Mammadov said at a press conference for representatives of the Azerbaijani media, Trend reports.
According to Mammadov, the Star Refinery is one of the largest refining projects recently implemented in the EMEA economic region, which includes Europe, the Middle East, and Africa.
He said that with additional investments to further develop the efficiency and logistics capacity of the refinery, the total investment cost will be $7 billion.
"The Star Refinery with a crude oil processing volume of 11 million tons per year, in addition to diesel and naphtha, produces aviation fuel and LPG," Mammadov said.
He also said that the refinery with a processing capacity of 35,000 cubic meters of crude oil per day, having completed a project on new tanks in 2020, brought the storage volume to 1.9 million cubic meters.
According to the CEO, an additional $600 million will be invested to improve the efficiency and convenience of operations.
"The plant's storage capacity will increase from 1.6 million cubic meters to 2.2 million cubic meters. This is an ideal volume for a refinery that processes 11 million tons of crude oil per year. Thus, it will be possible to create an assortment of raw material sources in the Star Refinery. One of these projects is planned to be completed in 2021, the other in 2022," Mammadov said.