The State Oil Company of the Azerbaijani Republic (SOCAR) wants to
sell natural gas on the Turkish market and is interested in buying
local gas-distributing networks. The initiative was announced by Vagif
Aliyev, head of the investment management department of SOCAR,
chairman of the Board of Directors of Petkim petrochemical complex of
Turkey, Turan reports.
He said that SOCAR-Turcas alliance is turning into a powerful energy
holding in Turkey and is interested in Baskent Gaz and IGDAS (the gas
distribution system in Istanbul).
The official also said that one of the largest investments of SOCAR
abroad is the companies in Turkey, such as Petkim.
Aliyev commented on the publications of WikiLeaks, noting that the
materials are a lie and that Azerbaijan would be happy to see Turkey
as an energy center.
SOCAR-Turcas purchased 51% shares of the petrochemical complex
Petkim, worth $2.05 billion, in 2008. The alliance received license in
2010 to build an oil refinery in Izmir processing 10 million tons
annually. The investments of SOCAR until the end of 2014 will reach
$3.5-4 billion.
Turkey imports Azerbaijani gas within Stage-1 project of Shakh-Deniz
field since July 3, 2007, and purchased 5.01 billion cubic meters of
the fuel in 2009. Turkey will purchase at least 6.3 billion cubic
meters of gas annually, according to its Stage-1 obligations (the
contract lasts 16 years). There is an agreement with Ankara of June 7,
2010, within Stage-2 project (the supplies are planned for the first
quarter of 2017). Turkey will purchase approximately 6 billion cubic
meters annually. This means that the gas supplies Turkey since 2017
may exceed 12 billion cubic meters annually, which is 28-30% of its
current consumption.
