Baku, Azerbaijan, July 19
By Leman Zeynalova – Trend:
ElectroGas Malta sees great potential in growing demand for gas for power production on the island associated with growing tourist interest, ElectroGas Malta Consortium told Trend, commenting on the possibility of increasing liquefied natural gas supply by Azerbaijan’s SOCAR Trading to the gas power plant in Malta.
“This has become evident as the government of Malta has put increased emphasis on growing tourism industry on the island by providing particular subsidies and incentives for local hotels to attract more and more tourist resulting in higher demand for power (for example through additional use of Air conditioning etc),” said the consortium.
ElectroGas Malta noted that any additional LNG supply required by the island will be supplied by SOCAR Trading SA.
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.
SOCAR Trading, headquartered in Geneva, was established in late 2007 by the State Oil Company of Azerbaijan.
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