SOCAR to create chemical industrial park in Turkey
By Nigar Abbasova
Azerbaijan’s state oil company SOCAR, which is carrying out its activities in Turkey through SOCAR Turkey Enerji A.S, intends to create a chemical industrial park in the country.
Chief advisor of SOCAR Turkey Enerji A.S Hayati Ozturk addressing the “Design and Innovations” forum in Istanbul said that the creation of a chemical industrial park is an innovation for Turkey, noting that demand for chemical products is increasing in his country.
He said that the work is currently underway for the production of ethylene from methane, underlining that this will be a “revolution” for the energy sector of Turkey, as the country will reduce its dependence on oil and increase competitiveness of the Turkish petro-chemistry industry.
Turkey’s chemicals industry enjoys a huge potential for significant growth, due to increasing demand coming from both domestic and global markets. The industry needs increased production capacity and diversified product portfolio to capture the potential.
One of the main objectives of SOCAR Turkey is turning Petkim Pennisula into a large production centre in Europe.
Turkey is the 14th largest importer of chemicals in the world and the 27th largest exporter of chemicals, according to UN Comtrade 2015 statistics.
Being one of the most powerful global oil companies, SOCAR has been carrying out its activities in Turkey since May 30, 2012.
SOCAR Turkey has been implementing many projects to help reinforcing economic relations between the two countries, which enjoy fraternal relations. The company has a controlling stake in Petkim petrochemical complex and implements Star refinery construction project.
---
Follow us on Twitter @AzerNewsAz