SOCAR Trading reveals volume of LNG supply to Malta
Baku, Azerbaijan, Feb.7
By Leman Zeynalova – Trend:
SOCAR Trading, trading house of Azerbaijan’s state oil company SOCAR, has delivered around 600,000 cubic meters of liquefied natural gas (LNG) to the gas power plant in Malta as of early February, a source in SOCAR Trading told Trend.
“As of early February 2018, SOCAR Trading has supplied a total of about 600,000 cubic meters of LNG to Malta. It is around 360 million cubic meters of pipeline gas both for the new and the old plant,” said the source.
The project’s needs are around 600,000-700,000 cubic meters of LNG per year.
ElectroGas Malta Consortium, where SOCAR is represented with a 33-percent share by its marketing arm SOCAR Trading, was established to implement the combined cycle gas fired power plant project in Malta.
Other shareholders are German Siemens Project Ventures GmbH and GEM Holdings Ltd, which is a joint venture of Maltese companies. SOCAR Trading is represented in the project as a supplier of LNG (6-7 batches per year), a floating liquid natural gas storage unit and equipment for its processing. The first LNG batch was supplied to Malta in January 2017.
The power plant’s construction costs around 200 million euros. It will meet almost 50 percent of Malta’s electricity demand. The plant’s commercial operation began in August 2017.
SOCAR Trading, headquartered in Geneva, was established in late 2007 by the State Oil Company of Azerbaijan.
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