Azerbaijan’s State Oil Company (SOCAR) is supposed to at least double gas exports via the Southern Gas Corridor (SGC) by 2027, the company’s President Rovshan Najaf said during the 2nd Azerbaijan-Turkiye Energy Forum, Azernews reports per Trend.
“Therefore, we are discussing plans on expanding the TAP and TANAP pipeline capacities. A large amount of investments are required for the implementation of these plans,” he said.
In this regard, he also mentioned that Azerbaijan is expected to boost overall gas exports to 22 billion cubic meters in 2022.
Noting that SOCAR would further make investments in the Turkish economy, he stated that so far, the company has invested $17.7 billion in the Turkish economy.
To note, the 2nd Azerbaijan-Turkiye Energy Forum was held in Istanbul on October 5-6.
The State Oil Company of the Azerbaijan Republic is involved in exploring oil and gas fields, producing, processing, and transporting oil, gas, and gas condensate, marketing petroleum and petrochemical products in domestic and international markets, and supplying natural gas to industry and the public in Azerbaijan. The company owns two refineries in Azerbaijan, one in Turkey, as well as networks of petrol stations in Azerbaijan, Turkey, Georgia, Romania, and Switzerland.
By Ayya Lmahamad