Anar Mammadov: TANAP will assist to cover current deficit

Baku. 30 March. REPORT.AZ/ The Trans-Anatolian Pipeline (TANAP) project aimed to transport Azerbaijani gas to Turkey and then to Europe, will help to cover current deficit in Turkey and ensure natural gas security of the country.

Report informs, Petkim Holding Director General Anar Mammadov said in his interview with Anadolu.

He noted that in 2018, TANAP will be put into operation (section to Eskişehir) and first gas will be delivered to Turkey (on "Shah Deniz-2").

Petkim Director said that currently, SOCAR is the largest foreign investor in Turkey as well expressed confidence in Turkish economy: "We do not feel like strangers in Turkey. Turkey is a very close and brotherly country. Being an international company, SOCAR has been investing in many countries around the world, the largest volume of these investments made in Turkey".

A. Mammadov stated that 18 billion USD investment is planned to be invested in the projects in Turkey and that 11 bln USD has been spent so far. He noted that the works on all the projects intended to completed in 2020.

Speaking about STAR oil refinery, which is under construction in Izmir, Petkim Head said that the plant will be launched in 2018.

He also spoke about importance of the Petlim Container Port and noted that this port allows more high-tonnage vessels to enter the Aegean region, which will reduce transportation costs.

A. Mammadov stressed that this and other projects will help to cover current deficit of the Turkish economy. He said that just STAR will help closure of the deficit by 35%.

He spoke about importance of stability in the market and stated that difficulties were observed last year due to fluctuations in oil prices and exchange rate, however, the situation normalized currently. A.Mammadov expressed confidence in more stability this year. He believes that this year, oil prices will remain at around 50-60 USD/barrel.