In the modern era, as the global energy map is rapidly changing and carbon neutrality targets and the transition to renewable energy are accelerating, a vital question stands before crude oil producers: Is it possible to ensure long-term economic sustainability by selling only hydrocarbon resources? The strategic steps taken by the State Oil Company of the Republic of Azerbaijan (SOCAR) in the Turkish market have already been giving a clear and unequivocal answer to this question for years: No, the real future lies in the petrochemical sector that creates high added value.

The information contained in a report by international rating agency “Fitch Ratings” these days once again turned the attention of global and regional economic circles to the Aegean coast. SOCAR’s work on a new giant investment program worth $7 billion in Turkiye and its plan to make the Final Investment Decision (FID) by the end of 2026 is not an ordinary business expansion. It is a clear indication that the geoeconomic partnership between Baku and Ankara has entered a qualitatively new, deeper and more strategic stage.

To understand the essence of Azerbaijan’s move, it is first necessary to look at Turkiye’s industrial structure and current economic landscape. Turkiye is........

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