Tag Archives: Azerbaijan Investment

Star refinery to contribute to petrochemical industry development in Turkey

The Star oil refinery will help reduce Turkey’s dependence on imports in the petrochemical industry

Source: en.trend.az

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SOCAR to start construction of new petrochemical complex in Turkey

The construction of a new petrochemical complex of SOCAR in Turkey is scheduled for June 2019, SOCAR Turkey Energy reported.It is planned to complete the feasibility study of the project by April 2019, so that by June construction work will start. It is expected that the complex will begin to produce products by the end of 2022 – beginning of 2023. Its commissioning by 40 percent will ensure Turkey’s needs for petrochemical products.

Source: www.azernews.az

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Posted in Energy Law, Energy Project Investment, Energy Projects Turkey, Energy Trading, EU Energy Projects, Gas & Oil, International Energy, International Energy Disputes, oil & gas, Renewable Energy, Russian Energy, Scoop.it, TANAP | Tagged , , , , , , , , , , , , , , , , , , , , | Leave a comment

TANAP project 75 percent complete

Over 75 percent of the work on the TANAP project for the delivery of Azerbaijani natural gas to Turkey has been completed, Azertac reported citing TANAP Director General Saltuk Duzyol. He went on to say that TANAP is being constructed in two phases, including Phase-0 is of 56 inches diameter and 1 334 km long. Construction works in this phase are being carried out on the route starting from Turkish-Georgian border stretching to Eskisehir.

Sourced through Scoop.it from: www.azernews.az

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SOCAR Turkey reveals its plans for 2017

SOCAR Turkey, a subsidiary of Azerbaijan’s state energy giant SOCAR, plans to commission the Petkim wind farm in 2017.

Head of SOCAR Turkey Energy Zaur Gahramanov told Energy Business magazine that the commissioning of the farm, located in Aliaga peninsula in western Turkey, will allow to meet some 12 percent of the Petkim complex’s demand in electricity. The cost of the project is estimated at €55 million. The wind farm will also become a serious contribution to the development of alternative energy in Turkey. The work on the wind farm’s construction is being conducted by France’s Alstom company.

Sourced through Scoop.it from: www.azernews.az

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TANAP strengthens grievance redress mechanism

The consortium of Trans-Anatolian Natural Gas Pipeline (TANAP) project has set up Appeals Committees in order to bring credibility to the grievance redress process. The Appeals Committees are comprised of independent members who are not associated with the project’s implementation.The Committees will meet at least once a month or more often depending on the number and frequency of complaints made directly to them.

 

Sourced through Scoop.it from: en.trend.az

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AIIB approves $600M loan for TANAP project

Asian Infrastructure Investment Bank (AIIB) has approved allocation of a loan worth $600 million for the Trans-Anatolian Natural Gas Pipeline (TANAP) project.

Sourced through Scoop.it from: en.trend.az

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TANAP’s construction accelerates, costs decrease

The construction of the Trans Anatolian Natural Gas Pipeline (TANAP) project which plans to carry Azeri gas to Europe, is ahead of schedule and under budget by $3.2 billion, TANAP General Manager has said.

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$3.9B spent on STAR refinery construction in Turkey

As much as $3.9 billion have been spent so far on the construction of STAR oil refinery of Azerbaijan’s state oil company SOCAR in Turkey

Sourced through Scoop.it from: en.trend.az

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Azerbaijan launches investment offensive as cheap oil looms

The State Oil Fund of Azerbaijan aims to soon lift its cap on investment in stocks to 25% better known as Sofaz, it is looking to take on more risk, according to Deputy CEO Israfil Mammadov. The fund aims to soon lift its cap on investment in stocks, including private equity, from 15% to 25%, Mammadov recently told The Nikkei Veritas. Sofaz had $33.7 billion in assets under management at the end of June, of which bonds and short-term financial instruments made up roughly 80%.

Sourced through Scoop.it from: vestnikkavkaza.net

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