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Azerbaijan to launch new steam-to-gas power plant in Sept

Oil&Gas Materials 30 May 2009 14:10 (UTC +04:00)

Azerbaijan, Baku, May 30 / Trend , E.Ismayilov/

In September 2009, Azerbaijan will launch the Sumgayit steam-to-gas power plant with a 525-megawatt capacity, which has no analogues in the CIS countries, Vice-President of JSC "Azerenerji" Marlen Asgarov said. Currently, this station is under the final start-up operations. Construction was carried out by the German company Siemens.

Specialists forecast that the annual productivity of the plant will be 3.8 billion kilowatt-hours of electricity. The cost of production of one kilowatt hour of electricity will be 230 grams of fuel. Annual demand for gas stations is 630 million cubic meters. The project costs € 257 million.

The agreement on financing was signed with the Bayern LB bank (Germany), Societe de General (France) and BNP Paribas (France). All three banks allocate equal shares of 15 years (the first three years of grace) with the credit interest rate of Libor +0.55. As part of this project, it is also planned to build 107 km of high-voltage power lines. Moreover, the gas pipeline was built to supply gas to power plants. Its cost is estimated at €30 million.

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