BAKU, Azerbaijan, July 2. The Black Sea Trade
and Development Bank (BSTDB) plays a highly important role in
ensuring SOCAR Trading’s trade operations, Togrul Kocharli, Head of
Global Business Development at SOCAR Trading, said during the BSTDB
Business Forum in Baku, Trend's correspondent reports from the event.
“First of all, SOCAR already plays an important role in
developing Azerbaijan’s non-oil sector. We produce and export
fertilizers, polymers, and a number of other materials. However, to
be frank, oil and gas remain our core business. In terms of trade
finance, this is exactly where we cooperate with BSTDB. Trade
finance is like ‘fuel’ for business: it keeps a company alive and
enables it to grow. In this sense, the Bank’s role in supporting
our trading operations is extremely important,” he said.
Kocharli noted that BSTDB contributes to strengthening regional
integration, with Azerbaijan acting as a key transport and
logistics hub, enabling cargo flows from Central Asia to reach
international markets both via the Mediterranean and the Black
Sea.
“The main export route for SOCAR’s crude oil and petroleum
products runs through the Black Sea via the Kulevi terminals, where
our export infrastructure is located. The flows passing through
these terminals are already financed by the Black Sea Trade and
Development Bank. We also use credit lines provided by the Bank to
finance crude oil purchases for the STAR refinery owned by SOCAR
and located in Aliağa, near Izmir. In addition, SOCAR holds a
strong position in the petroleum products retail sector in Georgia.
Financing from the Bank allows us to ensure competitive pricing,
timely deliveries, and uninterrupted supply,” Kocharli
emphasized.
