The establishment of this enterprise started from the date of acquisition of the controlling shares of Petkim by SOCAR-Turcas in 2008. In December 2009 the Environmental Impact Assessment was approved and in 2010 the licensing process was finalized by the Turkish Energy Market Regulatory Authority.
Aegean Refinery’s production of light and heavy naphtha at the initial stage will meet Petkim’s demand for raw materials and on the other hand, will meet a substantial part of the imported ultra lowsulfur diese, liquid gas, aviation fuel, xylene and other oil products.
The establishment of the plant will provide supply security for raw materials of Petkim and will also create an integrated chain between refining and oil chemistry. The production at Aegean Refinery will meet the standards in relation to quality of oil products of the European Union and also the plant will possess the clean technologies for production of environmentally-friendly products.
The groundbreaking of the plant is planned to be put in the last quarter of 2011 and it is aimed to ready the Aegean Refinery by 2015.