Baku, Azerbaijan, Oct. 20
By Maksim Tsurkov - Trend:
Azerbaijani company AzMeCo has suspended the purchase of gas for methanol plant from the Russian company Gazprom, the plant told Trend Oct.20.
"Due to the fact that the world prices for methanol decreased, the purchase of gas from Gazprom at the current price has become unprofitable for the company," said AzMeCo. "As a result, it was decided to suspend the purchase of gas, as methanol production is unprofitable under existing conditions."
During the contract period, AzMeCo received more than 100 million cubic meters of Russian gas.
Azerbaijan Methanol Company (AzMeCo) planned to purchase up to 2 billion cubic meters of gas per year from Russia's Gazprom Export LLC.
The natural gas supply had to ensure the guaranteed loading of 100 percent of facilities of AzMeCo methanol plant in Garadagh.
AzMeCo methanol plant is one of the largest investments in non-oil sector of the country. For the first time in Azerbaijan, the company received methanol after processing natural gas as raw material.
The BP company is the main buyer of methanol produced at the AzMeCo plant. Mainly Georgian port of Kulevi is used in the process of the sale of methanol. AzMeCo company introduced innovations in the sale and transportation of methanol. The transportation of methanol through Volga-Don canal was carried out for the first time, and its first large-scale loading at the ports of Poti and Kulevi was held.
Methanol is exported to Turkey, Romania, Slovenia, the Netherlands and Belgium.
Edited by CN
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