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AZERBAIJAN,TURKEY : SOCAR to invest $17bn in Turkey By 2018
Publish Date : 02-Feb-2012
SOCAR, state oil company of Azerbaijan, by 2018 will be investing $17bn in Turkey, said Kenan Yavuz, CEO of SOCAR Energy Turkey. This investment is expected to be the largest in the history of the Turkish private sector.
SOCAR has a hold on the controlling amount of shares in largest petrochemicals holding company Petkim in Turkey, that is constructing a $5bn refinery on the Aegean coast.
Yavuz said, the $6bn project initiated for building the Trans-Anatolia gas pipeline, follows other major projects linking Azerbaijan and Turkey - the Baku-Tbilisi-Ceyhan oil pipeline, the Baku-Tbilisi-Erzurum gas pipeline and the Baku-Tbilisi-Kars railway.
According to him, presently, Turkey is the largest buyer of Azerbaijani gas, and the major amount of gas from Shah Deniz of Azerbaijan, is being exported to Turkey.
