TODAY.AZ / Business

Azerbaijan to build oil refinery in Ceyhan Port

30 March 2007 [13:27] - TODAY.AZ
Azerbaijan is going to build a high-tech oil refinery in Ceyhan Port, a Turkish port which is the end of Baku-Tbilisi-Ceyhan Pipeline carrying the Caspian oil from Azerbaijan to the world market via Georgia and Turkey.

The President of the State Oil Company of Azerbaijan (SOCAR), Rovnag Abdullayev, led a delegation to Turkey to attend general board meeting of SOCAR & Turcas Energy Joint Venture.

He also met Turkish Energy Minister Hilmi Guler, Energy Control Officer Yusuf Gunay and Palmali company leadership.

The SOCAR told APA-Economics that the meeting focused on establishment of a modern refinery in the Ceyhan Port to refine the crude oil delivered there by the SOCAR.

The SOCAR intends to process more than 10mln tons of the profit oil in the Ceyhan Port and sell in Turkish and European markets. The prospects of refining Azeri crude in Turkey were discussed and it was concluded that Turkey and the Mediterranean Sea markets are very prospective.

Turkish Minister Hilmi Guler hailed influx of Azeri investments to the country.

The SOCAR plans to prepare paperwork by April 15 and make an official application for the project.

Azerbaijan's state oil company also ha discussion to bid for privatization of Turkey's largest publicly owned petrochemicals maker Petkim. Turkish Energy and Natural Resources Minister hailed the SOCAR's intent to take part in bidding, adding that after he discussed projects Azerbaijan will become one of the important shareholders in Turkey.

Azerbaijan's delegation also discussed issues over delivery of Azeri gas to in the second quarter of the year and prospects of transporting Kazakhstan's oil and Turkmenistan's gas via Azerbaijan to Turkey and onward to Europe.
The SOCAR delegation and Palmali leadership discussed the issue of delivery of Azeri Light crude oil exported through BTC pipeline to the world market.

It was concluded at the meeting that shipping oil to the markets by sea is a vital route and Palmali can be a potential player in delivery.

URL: http://www.today.az/news/business/38549.html

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