Monday, 20 May 2013

Turkey-Azerbaijan: ties that bind | beyondbrics

"The Azeri dialect of Turkish may sound strange to Turkish ears but it is perfectly intelligible and the increasing economic and political cooperation between the two states represents as much a common culture as the geographical imperative that makes Turkey the perfect export route for Azerbaijan’s sizeable reserves of oil and gas reserves.

The latest example of Turkish-Azeri cooperation came with the signing Monday of a $3.4bn EPC contract between Azeri state oil company Socar and its Turkish partner Turcas and a consortium led by Spain’s Tecnicas Reunidas for the construction of a 10m tonnes/yr refinery at Aliaga on Turkey’s Aegean coast.

Owned 81.5 per cent by Socar and 18.5 per cent by Turcas, the STAR refinery is being constructed on a site adjacent to Turkey’s former state petrochemical firm Petkim which is now owned by Socar and is slated to start producing by autumn 2017."

'via Blog this'

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