Baku, Azerbaijan, Nov. 29
By Leman Zeynalova – Trend:
SOCAR GPC, gas processing and petrochemical complex of Azerbaijan’s state oil company SOCAR, is planned to be launched in 2022, Fuad Ahmadov, deputy director general at SOCAR GPC, said at the fourth international conference in Baku titled “Oil refining and petrochemistry of the Caspian Sea and Central Asia” Nov. 29.
Ahmadov noted that one of the goals of the project is to strengthen the monetization of gas processing, extract useful fractions and ensure the production of polymers.
“It is planned to build a gas processing plant with capacity of 10 billion cubic meters per year and a polymer plant that will consist of a pyrolysis unit and a polyethylene unit with capacity of 600,000 tons per year,” he said.
“Ten billion cubic meters of gas, which will be processed at this plant, will be supplied for the project. About 600,000 tons of polyethylene and 130,000 tons of propylene will be annually produced. A part of the propylene may be transported to SOCAR Polymer in Sumgait city, and the remaining part may be exported.”
SOCAR GPC will be commissioned in Garadagh settlement, 15 km south of Baku.
According to the initial estimations, the cost of the project is around $4 billion.
Dutch ING bank, China Development Bank and Russian Gazprombank are financial consultants of the project. US Vinson & Elkins LLP is a legal consultant at the international level, while PSG Law company has been involved as a legal consultant in Azerbaijan.