TODAY.AZ / Business

Star refinery’s opening shows common priorities of Turkey, Azerbaijan - professor

22 October 2018 [12:51] - TODAY.AZ

By  Trend


The opening of the Star oil refinery once again demonstrated common priorities and interests of Turkey and Azerbaijan in the region and the world, a famous Turkish historian, professor Togrul Ismayil told Trend.

He emphasized that the Star oil refinery became the first project to receive a document on the promotion of strategic investments in Turkey after the Law on Promotion adopted by the Turkish parliament.

“The opening of such a fundamental plant of strategic importance with the joint participation of the Azerbaijani side demonstrates readiness for continued and mutually beneficial cooperation of Turkey and Azerbaijan in the energy sector,” he noted. “In parallel, this event once again showed that our states play a major role in ensuring security and stability in the region. This is also confirmed by large-scale transport projects that are of strategic importance and aimed at ensuring the security of the region.”

He noted that the joint implementation of major projects, and, in particular, the opening of the new oil refinery in Turkey, forms the energy and transport map of Eurasia, as well as enhances regional bilateral cooperation.

Togrul Ismayil added that the powerful projects that are being implemented by Turkey and Azerbaijan are aimed at supporting the strategy of unity of two fraternal peoples, which have great potential for the development of multilateral cooperation.

The opening ceremony of the Star oil refinery took place on October 19 in Izmir city of Turkey with the participation of President of Azerbaijan Ilham Aliyev and President of Turkey Recep Tayyip Erdogan.

The total oil refining capacity of the refinery will be 10 million tons, and Azerbaijan’s state oil company SOCAR is the main supplier of raw materials for the refinery. 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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