SOCAR Turkiye Enerji to create new petrochemical enterprise in Turkey

SOCAR Turkiye Enerji (subsidiary of SOCAR) considers the establishment of a new petrochemical plant in Turkey, the head of SOCAR Turkiye Enerji Zaur Gahramanov stated in an interview.

According to his words, the company is considering new opportunities in Turkish petrochemical sector.
It is quite possible that the decision will be made in favor of JV.

The case is that after Star refinery launch Turkey will get a large amount of crude oil, which can be also used in petrochemical industry and this will require a new structure.

SOCAR annually invests $150 million into development of petrochemical complex Petkim.
According to Gahramanov, SOCAR will invest at least $18 billion in the implementation of its Turkish projects.

Today Turkey actively imports oil.
In 2015 oil import grew by 43% up to 25,1 million due to the refinery demand.
Russia also has its interest in the project.
In October 2016 Rosneft and SOCAR Turkey Enerji agreed about future oil deliveries to Star refinery in Turkey.