SOCAR snaps up OMV Petrol Ofisi Aliağa

A group of international investors led by Azerbaijan’s SOCAR has reached an agreement with OMV to acquire the Aliağa Storage Facilities owned by OMV Petrol Ofisi AŞ.
The facilities will be used for storage and also serve as shipping points for STAR Refinery, which broke ground in 2012 and will become fully operational by 2018, while the acquisition is a stage in the previously planned logistics strategy of the refinery project.
Aliağa Terminal has a capacity of 200,000 cbm of oil and 45,000 cbm of LPG. The acquisition, which is expected to enhance the effectiveness of the STAR Refinery operations currently under way at Petkim Peninsula, will increase SOCAR’s storage in the region and improve co-operation with distribution companies using the same facility.
SOCAR Turkey CEO Zaur Gahramanov said there were possibilities of increasing the capacity up to 700,000 cbm and LPG storage facilities too can be increased.