By January 1, 2016 total amount of SOCAR’s investments into the projects outside of Azerbaijan reached $4,486,900,000.
According to the company, the biggest amount has been invested into the company’s projects in Turkey, which totaled $3,334,300,000.
SOCAR’s investments in Switzerland totaled $414.5 million, in Georgia - $386 million, in Ukraine - $280.8 million and in Romania - $71.3 million.
The most capital intensive project of SOCAR in Turkey is TANAP gas pipeline, in which it owns 58%. Cost of the project is estimated at $9.3 billion. In the other gas pipeline project TAP with the cost of $6 billion SOCAR owns 20%. SOCAR has the following projects in Turkey, where it owns a packet of shares: Petkim Petrokimya Holding (about 57%), Star Refinery oil refinery, container terminal Petlim, SOCAR Power station, SOCAR Gas A.S. company supplying gas to the local market and SOCAR Fiber fiber-optical company.
In Switzerland, Romania and Ukraine SOCAR is involved in retail oil products trade and opened a network of petrol stations under SOCAR brand name.
In Georgia SOCAR is involved in retail trade of oil products as well as gas distribution and is the owner of the oil terminal Kulevi.—0—
Economics
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Kazakhstan has achieved significant growth along the Trans-Caspian International Transport Route (TITR), with cargo volumes increasing by 68% and container shipments soaring 2.7 times during the first 10 months of 2024. These figures, announced by Kazakhstan's Minister of Transport Marat Kabaev during a regional development meeting in the Mangystau region, highlight the crucial role of the Middle Corridor in connecting China with Europe.
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On December 9, Azerbaijani President Ilham Aliyev signed a decree approving the protocol of amendments to the Agreement on Strategic Partnership for the Development and Transmission of Green Energy. The agreement, involving Azerbaijan, Georgia, Romania, and Hungary, aims to strengthen cooperation in sustainable energy across the region.
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