BAKU, Azerbaijan, Jan. 18
By Fidan Babayeva - Trend:
Azerbaijan exported methanol worth $51.2 million in 2020, Trend reports referring to the statistics report of the Azerbaijani State Customs Committee.
During the reporting period, 471,233 tons of methanol (methyl alcohol) were exported from the country.
In accordance with the report, the share of methanol in Azerbaijan's export in the non-oil sector amounted to 2.76 percent while in the total export volume - 0.37 percent in 2020.
SOCAR Methanol LLC of the State Oil Company of Azerbaijan (SOCAR) is engaged with the production of methanol in Azerbaijan.
SOCAR Methanol forecasts the production of methanol in the volume of 480,000 tons in 2020 compared to 383,000 tons last year.
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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