EDB reveals investment flows between Azerbaijan and Türkiye

Eurasian Development Bank (EDB) has presented data on investment flows between Azerbaijan and Türkiye.

According to Report, the figures were announced by Aidos Omarov, senior analyst at the EDB"s Center for Integration Studies, during the presentation of the Investment Dynamics of the Eurasian Region – Results and Trends.

As of the end of the first half of 2025, the total volume of Azerbaijani investments in Türkiye"s economy reached $13.1 billion, he said.

According to Omarov, the reverse flow of investments from Türkiye to Azerbaijan is estimated at $3.1 billion.

"The largest Azerbaijani project in Türkiye is the construction of the STAR Refinery by the SOCAR, with total investments of about $7 billion. From the Turkish side, the largest investment project is the participation of TPAO in the development of the Shah Deniz gas-condensate field. These investments amount to $2.85 billion," Omarov noted.

The STAR Refinery, launched in 2018, processes crude grades including Azeri Light, Kirkuk crude, and Urals crude. The refinery supplies feedstock to the Petkim petrochemical complex and allows SOCAR to access Mediterranean markets with diesel fuel, jet fuel, and petrochemical products. The facility covers around 18% of Türkiye"s demand for petroleum products.

The offshore Shah Deniz gas-condensate field is located in the southwestern part of the Caspian Sea, about 70 km southeast of Baku. The agreement on its development was signed in Baku on June 4, 1996.

The project"s shareholder structure includes: BP (operator – 29.99%), Lukoil (19.99%), TPAO (19%), Southern Gas Corridor CJSC (16.02%), NIKO Resources (10%), and MVM Group (5%).

Since the start of production and until February 1, 2026, the field has produced 267 billion cubic meters of natural gas and 52.7 million tons of condensate, including 87 bcm of gas from the Shah Deniz Phase 2 stage.

The field is currently operating at peak production, with gas extraction under a new development phase expected to begin in 2028.