BAKU, Azerbaijan -- Azerbaijan's state oil and gas company says it plans to invest up to $17 billion in energy projects in neighboring Turkey over the coming eight years. SOCAR vice president Suleyman Gasimov said Thursday that investments will include $5.5 billion on a new refinery and $800 million on a power station.

Another major, still-unconfirmed goal mentioned by Gasimov is the construction of the proposed Trans-Anatolian natural gas pipeline, which Azerbaijan hopes could be used to carry gas from its Shah Deniz offshore field to Europe. Under current plans, Azerbaijan would take a lead in the project, known as TANAP, and provide several billion dollars for its completion.