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CASPIAN OIL & GAS - SOCAR planning to make final decision on Mercury Petrochemical Complex

SOCAR planning to make final decision on Mercury Petrochemical Complex
19.08.2019

Baku, Azerbaijan, Aug. 19

By Sara Israfilbayova - Trend:

SOCAR Turkey Enerji, a subsidiary of Azerbaijan's State Oil Company SOCAR, plans to make a final decision on the construction of the Mercury Petrochemical Complex in Turkey by the end of the first quarter of 2020, a source at the company told Trend.

The complex will be built in the Aliaga area, next to Petkim petrochemical complex and SOCAR Turkey Aegean Refinery (STAR).

The proximity of the complex to the raw materials to be received from Petkim and STAR and to the joint infrastructure of these enterprises, including the port, will be a great advantage in terms of its productivity and competitiveness.

Moreover, Mercury will be refining the reformate produced at the refinery, as a result of which it will be able to produce petrochemical products with high added value.

Presently, Petkim's share in the Turkish petrochemical products market is 20 percent. The construction of a new complex will allow Turkey to reduce imports of petrochemical products and contribute to reducing the foreign trade deficit.


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