BAKU, Azerbaijan, Dec.29
By Fidan Babayeva – Trend:
Azerbaijan exported methanol worth over $46 million from January through November 2020, Trend reports citing the statistical report of the Azerbaijani State Customs Committee.
During the reporting period, Azerbaijan exported 431,782 tons of methanol (methyl alcohol), said the committee.
At the same time, the share of methanol in Azerbaijan's export in the non-oil sector amounted to 2.81 percent while in the total export volume - 0.35 percent.
SOCAR Methanol LLC is a producer of methanol in Azerbaijan.
SOCAR Methanol plans to produce methanol in a volume of 480,000 tons in 2020. The plant produced 383,000 tons of methanol in 2019.
The plant is the only producer of methanol in the South Caucasus and Central Asia, and it began to sell its products in January 2014.
The annual capacity of the plant is 650,000-700,000 tons. SOCAR acquired the plant from the Aqrarkredit Closed Joint-Stock Non-Banking Credit Organization, which was transferred by the decision of Azerbaijan’s Cabinet of Ministers because of debt before state organizations. The estimated cost of the plant was $520 million.
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