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By Evrim Ergin
BURSA, March 21 Turkey's Russian-owned lender
Denizbank is in talks with Azeri state oil company
SOCAR over a $1.7 billion loan package for investments,
Denizbank Chief Executive Officer Hakan Ates said on Friday.
The package would exclude the multi-billion dollar
Trans-Anatolian natural gas pipeline project (TANAP), designed
to reduce Europe's reliance on Russian gas.
"We are in talks with SOCAR for a loan package worth $1.7
billion for their investments in Turkey, excluding TANAP," Ates
told Reuters at the Uludag economic summit.
SOCAR owns Turkish petrochemical company Petkim,
and is building the $5.5 billion Star refinery in partnership
with Turcas Petrol to supply feedstock to Petkim and
cut Turkey's dependence on imported refined products.
Earlier this week, SOCAR Turkey's chief executive Kenan
Yavuz told Reuters it had agreed with a commercial bank on fresh
financing of $500 million to replace the World Bank's
International Finance Corporation and the European Bank of
Reconstruction and Development who had withdrawn from a
consortium financing the Star refinery.
Yavuz declined to name the commercial bank but sources close
to the deal said it was Denizbank, owned by Russia's Sberbank
(Writing by Ece Toksabay and Dasha Afanasieva; Editing by