SOCAR eyes to build methanol plant in Russia

Azer News - - Business - By Sara Is­rafil­bay­ova

TDirec­tor Gen­eral of SOCAR Poly­mer Farid Ja­farov made the re­marks on the side­lines of the 9th Azer­bai­jan-Rus­sian In­ter­re­gional Fo­rum.

“Ne­go­ti­a­tions are un­der­way with a Rus­sian com­pany on the con­struc­tion of a methanol plant in Russia. This is a large-scale pro­duc­tion. Our com­pany plans to scale up the ex­pe­ri­ence of SOCAR Poly­mer,” Ja­farov noted.

He added that the project could be prof­itable and com­pet­i­tive due to the at­trac­tive price for gas in Russia. It is as­sumed that the pro­duc­tion will use Rus­sian raw ma­te­ri­als.

In turn, Ex­ec­u­tive Chair­man of SOCAR Trad­ing Ad­nan Ah­madzade noted that the com­pany is ne­go­ti­at­ing the ex­ten­sion of the pur­chase of Rus­sian oil from the Kor­cha­gin field for trans­porta­tion through BakuCey­han to in­ter­na­tional mar­kets.

“Rus­sian oil has been sup­plied via the Baku-Cey­han pipe­line from the Kor­cha­gin field for five years. About 2 mil­lion tons are sup­plied every year. Now the con­tract is end­ing, we are ne­go­ti­at­ing to ex­tend it,” said Ah­madzade.

Fur­ther, he went on to say that Azer­bai­jan plans to ex­port 1.5 mil­lion tons of oil via the Baku-Novorossiysk pipe­line in 2019.

He also men­tioned that presently ne­go­ti­a­tions are un­der­way with a Rus­sian com­pany on the pos­si­bil­ity of build­ing a methanol plant in Russia.

SOCAR pumped 1.5 mil­lion tons of oil via the Baku-Novorossiysk pipe­line in 2017 com­pared to 1.3 mil­lion tons in 2016.

The Baku-Novorossiysk pipe­line is 1,147 kilo­me­ters long. The length of its Azer­bai­jani sec­tion is 231 kilo­me­ters and Rus­sian sec­tion is 916 kilo­me­ters long. The pipe­line was filled with oil in Oc­to­ber 1996, ac­cord­ing to SOCAR. Its high­est ca­pac­ity stands at 105,000 bar­rels a day.

In 2018, SOCAR plans to pump about 1.5 mil­lion tons of oil, pro­duced at on­shore and off­shore fields of Azer­bai­jan, via the BakuNovorossiysk pipe­line.

SOCAR is a wholly state-owned na­tional oil com­pany head­quar­tered in Baku, Azer­bai­jan. The com­pany pro­duces oil and nat­u­ral gas from on­shore and off­shore fields in the Azer­bai­jani sec­tion of the Caspian Sea.

The com­pany in­cludes three pro­duc­tion as­so­ci­a­tions, one oil re­fin­ing and gas pro­cess­ing en­ter­prise, an oil flotilla, a deep-wa­ter base plant, two trusts, one in­sti­tute, and 23 struc­tures.

SOCAR es­tab­lished joint com­pa­nies (in­clud­ing Ge­or­gia and Tur­key), al­liances, op­er­at­ing in var­i­ous sec­tors of oil and gas spheres. It has rep­re­sen­ta­tive of­fices in Ge­or­gia, the U.S., Tur­key, Ro­ma­nia, Aus­tria, Switzer­land, Kaza­khstan, Great Bri­tain, Iran, Ger­many, Ukraine, Bel­gium and Canada.

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