Opening of Star refinery important event for Turkey and Azerbaijan

  21 October 2018    Read: 1103
Opening of Star refinery important event for Turkey and Azerbaijan

The opening of the Star oil refinery is a momentous event for Turkey and Azerbaijan, the well-known Turkish expert, Professor Saleh Yilmaz told Trend.

According to estimates of the expert, the opening of the Star refinery promises a huge profit for the Turkish economy.

"A large investment has been made in the joint venture, and taking into account the economic feasibility of this project, it will bring great profits to the economies of Turkey and Azerbaijan. The Star Oil Refinery is a powerful enterprise, and its launch will expand the scope of bilateral cooperation and will improve coordination of cooperation in the energy sector," Yilmaz said.

He noted that Turkey and Azerbaijan have gained good experience in bilateral cooperation in the implementation of large-scale transport projects of international importance, which are well known in the region and the world.

"These are the Baku-Tbilisi-Ceyhan oil pipeline, the Baku-Tbilisi-Erzurum gas pipeline, the significance of which is of great importance for advancing the economic interests of Azerbaijan and Turkey in the region and the world. Along with the fact that all these mega-projects bring huge profits to our countries, they also play important role in maintaining stability in the region," the Turkish expert said.

Yılmaz added that the Trans-Anatolian Pipeline (TANAP) is among the most important joint mega-projects of Turkey and Azerbaijan, which is of great importance in ensuring the security of the region.

According to estimates of the expert, the projects implemented with the joint participation of Azerbaijan and Turkey are an indicator of the unity and faithfulness of the two states, based on the national interests of the Turkish and Azerbaijani peoples.

Earlier, the solemn opening ceremony of the Star Oil Refinery was held in Izmir city of Turkey, with the participation of the President of Azerbaijan Ilham Aliyev and the President of Turkey Recep Tayyip Erdogan.

The total oil refining capacity of the refinery will be 10 million tons, and the Azerbaijani state company SOCAR is the main supplier of raw materials for the enterprise. The refinery will significantly reduce the dependence of Turkey on imports of petrochemical products.

At the refinery worth $ 6.3 billion, built by SOCAR in the Aliaga district of the Turkish city of Izmir, on the territory of the Petkim petrochemical complex, 1.6 million tons of naphtha, 1.6 million tons of aviation fuel, 4.8 million tons of low-sulfur diesel fuel, 700,000 tons of petroleum coke, 420,000 tons of mixed xylene and 160,000 tons of sulfur will be produced.

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