Baku, Azerbaijan, Sept. 19
By Ilkin Shafiyev - Trend:
Initial engineering and design work as part of the SOCAR GPC Project, which envisages construction of a gas processing and petrochemical complex, has been completed, SOCAR President Rovnag Abdullayev said Sept. 19.
He was speaking at an event dedicated to the Oilman’s Day in Azerbaijan.
“The complex will become another contribution to the development of Azerbaijan’s chemical industry,” Abdullayev said. “Presently, the talks in this regard continue with foreign investors.”
It was earlier reported that the construction of SOCAR GPC complex, consisting of gas processing and polymer factories, is scheduled to start in late 2018 - early 2019.The complex will be located in the village of Sangachal on the territory of 305 hectares, and 250 hectares will be allocated only for construction. The cost of the project, according to initial estimates, is approximately $4 billion.
SOCAR president also noted that the company intends to expand sales of compressed natural gas (CNG) in the coming years.
“This year SOCAR took the first steps to create a CNG market in Azerbaijan,” he said. “For now, there is little demand for CNG in Azerbaijan, but the global demand for it is growing rapidly. It is expected that global demand will quadruple by 2025. In this regard, SOCAR defined the expansion of CNG sales as a promising direction.”
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