SOCAR will Buy Iraqi Oil for Refinery in İzmir

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The State Oil Company of Azerbaijan Republic (SOCAR) is due to purchase crude oil from Iraq next month to process at the SOCAR Turkey Aegean Refinery (STAR). which was inaugurated in October 2018 and has processed 1.5 million tons of crude oil so far.

SOCAR Turkey CEO Zaur Gahramanov. in his meeting with journalists during the 26th Caspian Oil and Gas Fair in Baku yesterday. elaborated on STAR`s recent operating capacity. Remarking that 1.5 million tons of crude oil have been processed at the STAR Refinery so far. Gahramanov added: `We plan to process 8 million tons of crude oil by the end of the year. As of next month. we will start buying Iraqi oil from the Persian [Gulf].`

He went on explaining the refinery`s activities and noted that SOCAR has started selling diesel and jet fuel to the Turkish market and that they will start petroleum coke sales in the coming months.

Indicating that SOCAR Turkey will supply 700.000 tons of jet fuel to Istanbul Airport on an annual basis. Gahramanov spoke about what countries and how much oil the refinery has bought so far. He said: `First. we bought Azeri oil. but then we processed Russian oil at the refinery. We did this to use a single type of oil. while the refinery was going through test phase and to see whether problems would arise from the oil or the plant. If we had mixed oils and encountered problems. we could not have understood the exact reason of the problem.` Gahramanov noted that 250.000 tons of petrochemical products from the STAR Refinery are currently being used at Petkim. adding that the refinery will be able to produce up to 750.00-790.000 tons of petrochemical products and that 500.000 tons of this will be exported.

Touching on the latest developments concerning the Trans-Anatolian Natural Gas Pipeline (TANAP). the 1.850-kilometer section of the Southern Gas Corridor. and the Trans Adriatic Pipeline (TAP) to extend into Europe. Gahramanov said that the Southern Gas Corridor is a $40 billion investment made to transmit Azeri gas to Europe.

Gahramanov said that the Southern Gas Corridor`s section. extending from the Azeri production venue to Eskişehir. Turkey. has been completed and that TAP is in the final stage.

According to Gahramanov. TANAP. which was put into operation last June. has carried 2 billion cubic meters of natural gas to Turkey so far. This amount will rise to 4 billion cubic meters by the end of the year.

Gahramanov noted that the commercial transmit of Azeri gas to Europe is likely to start in the middle of next year. adding: `To this end. we are waiting for the completion of TAP. The construction of the pipeline will end next year. and it will run in the test phase for six months. Then. commercial gas flow will begin. Thus. six out of a total of 16 billion cubic meters of capacity will remain in Turkey and the remaining 10 will go to Italy. starting from the Turkey-Greece border.`