Azerbaijan's SOCAR Sees $17B Turkey Investments
- Written by Admin TOA
- Published in Technology
BAKU, Azerbaijan -- Azerbaijan's state oil and gas company says it plans to invest up to $17 billion in energy projects in neighboring Turkey over the coming eight years. SOCAR vice president Suleyman Gasimov said Thursday that investments will include $5.5 billion on a new refinery and $800 million on a power station.
Another major, still-unconfirmed goal mentioned by Gasimov is the construction of the proposed Trans-Anatolian natural gas pipeline, which Azerbaijan hopes could be used to carry gas from its Shah Deniz offshore field to Europe. Under current plans, Azerbaijan would take a lead in the project, known as TANAP, and provide several billion dollars for its completion.
SOCAR is investing aggressively overseas, in countries like Turkey and the former Soviet republics, as it tries to diversify its sources of revenue.
Last modified onSaturday, 06 May 2017 10:07
Latest from Admin TOA
- Turkish Stand-Up Sensation Hasan Can Kaya Embarks on U.S. Tour with Art Evi Production, in212 Production, and TAAS New York
- "Lean Startup, To Lean Company, To Rich Exit" by Dr. Kenan Sahin is released with Forbes Books
- LOSEV USA Ramadan Campaign Let the Children Heal First with Your Ramadan Donations
- Azerbaijan Society of America Honors Centennial Anniversary of the Great Azerbaijani Politician the National Leader of Azerbaijan President Heydar Aliyev
- United in Donations: BTF's Earthquake Relief Fund Exceeds $10 Million