From Caspian gas to Turkish industry: SOCAR’s geopolitical energy strategy

State Oil Company of the Republic of Azerbaijan (SOCAR) has become one of Türkiye’s largest foreign investors and a core pillar of the Baku–Ankara energy partnership. Since acquiring Petkim in 2008, the Azerbaijani state energy company has built an integrated portfolio spanning petrochemicals, refining, gas transit, logistics, storage, and power generation. SOCAR reports approximately $18.5 billion invested in Türkiye, while Azerbaijani officials cite around $19 billion; the additional $7 billion polyolefin expansion remains a future commitment, not current investment. This portfolio creates commercial value for Azerbaijan and strengthens its regional influence, while Türkiye gains capital, industrial capacity, refined products, petrochemical feedstock, gas connectivity, and electricity generation. The partnership is therefore a potential win-win, although exposed to market volatility, geopolitical instability, […]