Azerbaijan's SOCAR to invest in Turkish energy sector
Azerbaijani state oil company SOCAR will invest in energy sector of Turkey in the coming five years, president of the company Rovnag Abdullayev has said at a meeting with Turkish energy minister Taner Yildiz in Baku.
The sides discussed the prospects for further enhancement of cooperation.
Abdullayev said the projects of SOCAR realized in Turkey are being continued successfully. "The process of investing has already started."
Yildiz, In turn, spoke about TANAP gas pipeline project. He noted that this project is important not only for the region, but also for Europe.
TANAP project envisages construction of the pipeline from the eastern border of Turkey to the country's western border to supply gas from Azerbaijani Shah Deniz gas field to Europe through Turkey. The initial capacity of the pipeline is expected to reach 16 billion cubic meters a year. About six billion cubic meters will be delivered to Turkey, and the rest - to Europe.