SOCAR largest investor in Turkey

Azerbaijan is the biggest investor in Turkey, head of SOCAR Turkey Enerji, board member of Petkim Petrochemical Holding Kenan Yavuz told Trend.

According to him, it is known that TANAP project is one of the strategic decisions of Turkey and Azerbaijan.

"TANAP makes it possible to transport Azerbaijani gas to Europe and this project is particularly important," he added.

According to Yavuz, the amount of investments to be made by the State Oil Company of Azerbaijan (SOCAR) in the projects which are being implemented in Turkey (along with the Trans-Anatolian gas pipeline project) will hit $ 17 billion.

"At the moment, Turkey has no investment worth $ 17 billion abroad," he said.

The TANAP project envisages gas transportation from Azerbaijani Shah Deniz field to Europe through Turkey. The initial capacity of the pipeline is expected to reach 16 billion cubic meters per year. About six billion cubic meters of gas will be supplied to Turkey and the rest to Europe.

Adapted from