Baku, Azerbaijan, Oct. 23
By Maksim Tsurkov – Trend:
SOCAR Methanol LLC, the methanol plant of Azerbaijan’s state oil company SOCAR, plans to start selling a new product, methanol reagent, this year, Elnur Mustafayev, director general of the plant, told reporters Oct. 23.
“The product will be bottled in small containers of various volumes and sold,” he said. “The State Committee on Standardization, Metrology and Patents of Azerbaijan has checked the product and issued a certificate of conformity,” he added. “Besides, the company is actively exploring possibilities of using methanol as fuel, which is more environmentally friendly than gasoline for specific types of vehicles.”
Mustafayev noted that the plant aims to produce 250,000-300,000 tons of methanol in 2018.
“These plans are being considered,” he said. “Starting from 2019, it is expected to increase gas production, and so it is logical to expect production growth at the plant. We hope that the plant’s potential will be used by 70-80 percent.”
He also expressed desire to increase sales of the plant’s products in the Azerbaijani market.
“The more our products are consumed in the local market, the more benefits local producer gets,” Mustafayev said.
Production at Azerbaijan’s methanol plant, the only plant of this kind in the South Caucasus and Central Asia, started in January 2014. Currently, 95 percent of its products are exported.
The plant’s maximum annual capacity is 720,000 tons. SOCAR acquired the plant from the Aqrarkredit non-bank credit organization. The plant cost was estimated at $520 million.