Socar Turkey has increased its overall storage capacity by expanding capacity at its storage terminal as well as increasing capacity at its Star refinery.
The company inaugurated the Socar storage terminal tank expansion project at the same time as laying the foundation for the Star refinery crude oil and oil products tanks project.
The storage terminal project includes 12 tanks with a total capacity of 335,000 m3. Currently the terminal is the largest in the Aegean region and with this expansion, it will further increase capacity to become one of Turkey's five largest terminals. It will store diesel, gasoline, jet fuel and reformates.
The next stage will be the Star refinery crude oil and oil products tanks project. This project will increase the refinery's storage capacity as well as enhance operational flexibility. It will provide an additional 342,000 m3 of storage capacity and is due to be complete in 2021. The refinery has 10 million tonnes of oil refining capacity a year.
These new investments will increase overall capacity at Socar Turkey to 2.5 million m3.
Socar president Rovnag Abdullayev says: 'Our petrochemical investments constitutes an important pillar of our operations, creating a long-term income source by bringing added value to the Azerbaijan economy, as well as making a big contribution to the region and Turkey.'
He adds that the storage capacity increase will also contribute to the productivity, commercial flexibility and production safety of the Star refinery.