SOCAR suspends plant construction in Georgia (UPDATE)

Oil&Gas Materials 8 May 2015 16:45 (UTC +04:00)

Details added (first version posted on 15:00)

Baku, Azerbaijan, May 8

The State Oil Company of Azerbaijan has suspended the construction of the carbamide plant on Georgia's territory, Rovnag Abdullayev, SOCAR president told reporters May 8.

He said that the project for construction of the plant has been temporarily frozen.

This decision has been made because of the failure to complete the certain negotiations with Georgian government, according to Abdullayev.

SOCAR includes production associations Azneft (the enterprises producing oil and gas onshore and offshore), Azerkimya (the chemical industry enterprises) and Azerigaz.

The company also has a number of processing enterprises, service enterprises, and institutions involved in geophysical and drilling operations.

SOCAR is the sole producer of oil products in Azerbaijan. It has two oil refineries and filling stations in Azerbaijan, Georgia, Ukraine, Romania and Switzerland.

SOCAR is the co-owner of the largest Turkish petrochemical complex, Petkim, and other assets in Turkey.

Moreover, currently, the company is carrying out work as part of ensuring the supply of Azerbaijani gas to Europe. In this regard, work is underway within the second phase of development of the Shah Deniz gas and condensate field, to expand the South Caucasus Pipeline, and projects are being developed to construct the Trans-Anatolian Natural Gas Pipeline and the Trans-Adriatic Pipeline.