TURKEY-AZERBAIJAN ENERGY COOPERATION: SOCAR’S INVESTMENTS IN TURKEY
Abstract
Energy cooperation is one of the significant issues of modern international political economy. Multidimensional nature of energy resources, exactly petroleum and natural gas, allows them to affect the states’ both political and economic strategies. Unequal distribution of fossil energy resources in the world and their role for social and economic life of human push states towards energy cooperations. In this context, Turkey-Azerbaijan energy collaboration has a special importance in the relations between two countries. In the first years of independence, Turkey has been one of the countries that has invested in production and export of Azerbaijan’s energy resources. While Turkey’s participation in Azerbaijan’s energy consortiums is continuing, State Oil Company of Azerbaijan Republic -SOCAR is the biggest investor in Turkey. Today energy cooperation between these countries serves the strategic interests of both sides, as well as contributing to Turkey’s energy industry sector.
Key words: Azerbaijan, cooperation, energy, investment, Turkey, SOCAR.
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