Timeframe of designing new gas processing plant in Azerbaijan announced
Baku, Azerbaijan, April 23
By Ali Mustafayev - Trend:
The design of a gas processing plant (GPP) within the framework of the project to create a new gas chemical complex in Azerbaijan is 90 percent ready, and will be completed by the end of 2018, Deputy Director of SOCAR Polymer Company Fuad Akhmedov said.
He made the remarks April 23 during the III international forum entitled as "Downstream of the Caspian Sea and Central Asia - trade, logistics, oil refining and petrochemistry".
"By 2022, we plan to start the implementation of the project, which will be included in the list of the largest projects of Azerbaijan, along with the block of oil and gas fields "Azeri-Chirag-Gunashli"," Akhundov said.
He noted that the GPP will be directed to the processing and use 10 billion cubic meters of gas per year.
"At present, we are also working to attract foreign investments in the construction of the complex, the approximate cost of which is estimated at $4.2 billion," Akhmedov said.
He added that the Russian Gazprombank has already allocated a loan of $498 million.