BP and SOCAR sign deal to develop new petchem complex in Turkey
The proposed facility will be integrated with SOCAR’s recently-inaugurated STAR refinery and Petkim petrochemicals site at the same location. The immediate proximity to the feedstock and infrastructure will reduce project costs significantly, the press release stated.
The world-scale complex, which will use BP’s latest proprietary PTA technology, is expected to produce 1.25 million tons/year of PTA, 840,000 tons/year of PX and 340,000 tons/year of benzene.
The potential investment would be the largest integrated PTA, PX, and aromatics complex in the Western Hemisphere and BP’s first major new aromatics platform since the launch of its Zhuhai site in China.
A final investment decision is expected to be taken in 2019, with start-up anticipated by 2023.
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