It was noted during the meeting of the TANAP Consortium’s management that was dedicated to the results of the first half of 2016 and the upcoming tasks, said a message from Azerbaijan’s state oil company SOCAR posted on its website Aug. 25.
SOCAR President Rovnag Abdullayev, who was on a visit to Turkey on Aug. 23-24, participated at the meeting.
TANAP project envisages transportation of gas from Azerbaijan’s Shah Deniz field to the western borders of Turkey. The gas will be delivered to Turkey in 2018, and after completion of the Trans Adriatic Pipeline’s construction, the gas will be delivered to Europe in early 2020.
After the meeting, Rovnag Abdullayev met with Turkey’s Minister of Energy and Natural Resources Berat Albayrak. The minister spoke about the status of projects implemented in Turkey and planned activities.
Albayrak expressed satisfaction with the progress of construction works within the framework of SOCAR projects in Turkey, in particular, the TANAP, the STAR oil refinery, petrochemical complex Petkim and Petlim container port. He noted that SOCAR is one of the important investors in Turkey; the company’s activities are supported by the country’s government and this support will be continued in the future.
SOCAR president also visited the Star refinery in Izmir, Petkim petrochemical complex and Petlim port. Abdullayev was told that all projects are being implemented in line with the schedule.
Star refinery’s annual production of naphtha, which is used by the petrochemical complex Petkim (where SOCAR has a share) as the main raw material, will be 1.66 million tons. Apart from naphtha, the new refinery will produce diesel fuel with ultra-low sulfur content in the volume of 5.95 million tons, aviation kerosene – 500,000 tons, reformate – 500,000 tons, petroleum coke – 630,000 tons, liquefied gas – 240,000 tons, mixed xylene – 415,000 tons, an olefin liquefied gas – 75,000 tons and 145,000 tons of sulfur. The refinery won’t produce gasoline and fuel oil. The plant is planned to process such oil sorts as Azeri Light, Kerkuk and Urals.
Total cost of Star refinery’s construction project in Turkey exceeds $5 billion.
Petlim port’s shareholders are: Petkim – 70 percent and Goldman Sachs – 30 percent. In 2013, a contract was signed with APM Terminals for the port’s management for 28 years. Petlim port’s capacity is 1.5 million TEUs (twenty-foot equivalent units).
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