SOCAR talks commissioning of updated steam generating unit at its plant (Exclusive)

Baku, Azerbaijan, Oct. 11

By Ilkin Shafiyev - Trend:

Modernization of a steam generating complex operating at the Ethylene-Polyethylene plant of the Azerikimya Production Union of Azerbaijan’s state oil company SOCAR has been completed by about 45 percent, a source in SOCAR told Trend Oct. 11.

“The updated units are planned to be commissioned by the end of 2019,” the source noted. “The German government supported the implementation of this project by an export credit guarantee provided by the company Euler Hermes. The cost of the modernization project is 30 million euros, and German technologies are mainly used there.”

The relevant agreement on the establishment of the SOCAR-UNIPER Joint Venture (JV) for the production of a turbogenerating unit was signed May 2016 in Baku by Head of SOCAR Rovnag Abdullayev and CEO of Uniper Klaus Schafer. SOCAR owns 51 percent in the JV, while Uniper owns 49 percent.

The project is aimed at improving economic efficiency of the steam generating complex operating at the Ethylene-Polyethylene plant and will ensure the production of additional volumes of electricity.

The Uniper and SOCAR partnership works in many other areas, including annual training on technology and energy efficiency, management and social responsibility.

Uniper is also one of the buyers of gas from Azerbaijan as part of the Shah Deniz-2 project. The company will purchase gas from the field in the amount of 1.5 billion cubic meters for 25 years, starting from 2020.

The two companies will also jointly implement projects aimed at improving efficiency in oil and gas production in Azerbaijan, optimizing energy consumption in the Azerbaijani industry and reducing harmful emissions into the atmosphere.

---

Follow the author on Twitter: @IlkinShafiyev

Uniper sees €160 million increase in adjusted net income y-o-y
Uniper sees €160 million increase in adjusted net income y-o-y
Kazakhstan boosts trade turnover with China in 2020
Kazakhstan boosts trade turnover with China in 2020
Rosselkhoznadzor allows number of Uzbek companies to import tomatoes to Russia
Rosselkhoznadzor allows number of Uzbek companies to import tomatoes to Russia
Loading Bars
Latest
Uniper sees €160 million increase in adjusted net income y-o-y
International Fund for Agricultural Development helping Georgia modernize agriculture sector
Uzkimyosanoat, Shell talk modernization of Uzbekistan’s chemical enterprises
Kazakhstan’s Almaty Power Stations JSC opens tender for electrical work services
Kazakhstan boosts trade turnover with China in 2020
President Ilham Aliyev delivers speech at congress of ruling party
With OPEC+ restraint in place during April, upward pressure on prices to continue
President Aliyev sends condolences to President Erdogan regarding helicopter crash
Uzbekistan, Belarus agree on increasing permits for road transport of goods for 2021
Rosselkhoznadzor allows number of Uzbek companies to import tomatoes to Russia
Saipem to take part in green hydrogen hub creation in Italy
Kazakhstan announces 2021 oil production plans
Average monthly salary in Baku in 2020 grows
Azerbaijan shares footage from Fuzuli's Yukhary Rafadinli village (VIDEO)
US congressman Steve Cohen issues statement on Khojaly tragedy's anniversary
Kazakhstan to start partial sales of petroleum products through commodity exchanges
Turkmenistan defines tasks for "Single Window for export-import operations"
Kazakhstan to increase oil extraction volumes within OPEC+ agreement
Kazakhstan’s KazTransOil opens tender for wells servicing
Azerbaijan's Aghdam - now huge field of ruins, BBC report says (VIDEO)
Southern Gas Corridor CJSC's needs for cash in 2021 to be fully covered by proceeds from projects
Azerbaijani currency rates for March 5
Uzbek chemical production company to buy technological equipment via tender
Azerbaijani oil prices on the rise
Creator of Tukish 'Bayraktar' UAV talks General, who died in helicopter crash
Uzbekistan reveals its COVID-19 data for March 5
Ceyhan terminal transships over 36 million tons of ACG oil since early 2021
Oil prices surge as OPEC+ extends output cuts into April
Uzbekistan’s fiscal policy to continue supporting economic recovery - Fitch Ratings
Azerbaijani FM extends condolences to Turkey over helicopter crash
Kazakhstan eyes to strengthen interaction with int'l financial organizations
Azerbaijan's Ministry of Ecology plans to implement projects in liberated territories
Azerbaijan records growth in Jan.2021 lending to agricultural sector
Turkmenistan's Balkan region opens tender for recreation center construction
Kazakhstan’s COVID-19 daily case count stands at 857
Turkey reports 11,322 new COVID-19 cases
Official says satisfied with results of human trial of Iranian COVID-19 vaccine
WHO Europe hopeful Covid-19 vaccines arrive in Georgia in coming weeks
Azerbaijani defense minister expresses condolences to Turkish side
China sets modest GDP growth target as economy improves
Kazakhstan may take part in restoration of Azerbaijani liberated lands
Vanuatu, New Caledonia, Tonga evacuate people over tsunami threat
6.5-magnitude quake hits Kermadec Islands region
Uzbek and Belarusian experts to exchange experience in standardization
Italy reports nearly 23,000 new COVID-19 cases as some see "third wave"
5.9-magnitude quake jolts central Greece, no injuries reported
Georgian Railway expects to refinance Eurobonds
UK records another 6,573 coronavirus cases, 242 deaths
Azerbaijan agrees to continue existing oil production cuts in April (PHOTO)
7.3-magnitude quake hits waters off New Zealand
Armenia can also benefit from regional transportation projects if behaves in normal way - President Aliyev
Azerbaijan becomes one of Eurasia's main and reliable transportation, logistics hub - President Aliyev
We invite ECO member states to benefit from “Zangazur corridor” - President of Azerbaijan
We condemn unequal, unfair distribution of vaccines among developing and developed countries - President Aliyev
Now we are looking into future - President Aliyev
Military victory over Armenia on battlefield was also fully accomplished by political ways - President Aliyev
Stronger Turkey is, stronger is Azerbaijan and all its partners - President Aliyev
IAEA chief: Technical meeting with Iran to be held in April
WHO praises Georgia for curbing Covid-19
Belarusian BELAVIA airlines operating one-way flights on Baku-Minsk route
Macron to spare Paris region from weekend lockdown, for now
Kazakhstan determines priorities of foreign policy
Compliance services become more relevant in Azerbaijan - PASHA Bank
Several servicemen killed in military helicopter crash in Turkey
Azerbaijan doing everything to create new transport infrastructure in South Caucasus – Russian analyst
New reality created in South Caucasus - head of department at Istanbul Kadir Has University
Demining of Azerbaijani lands complicated by Armenia’s refusal to provide maps of minefields - Expert
Long-awaited end to Karabakh conflict creates new opportunities - Former US ambassador to Azerbaijan
Azerbaijan shows footage from Kechikli village of Zangilan district (VIDEO)
Azerbaijan interested in strengthening export and investment potential with Argentina
President Aliyev gives speech at virtual Summit of Economic Cooperation Organization (PHOTO/VIDEO)
MFA shares potential sectors of Lithuanian investment in Georgia
Georgian kiwi enters Japanese market
Azerbaijan's ENGINET company talks unique solutions for local market
Kazakh gold extracting venture opens tender to buy spares
Kazakhstan intends to attract funds to improve energy efficiency of facilities
Volume of food products sold in Baku's trade network increases
Georgia shows progress in curbing coronavirus cases - WHO
Azerbaijani Finance Ministry allocates funds for maintenance services
Restaurant business subsidizing program launched in Tbilisi
UK's Johnson says Brexit problems in Northern Ireland are solvable
Supporting Member Country ECAs: ICIEC endorse supportive reinsurance treaty with JLGC
Uztekstilprom, French Proparco talk profitable financing for textile projects
Georgian consulting company launching project for female entrepreneurs
Georgian wine export to US down
Russia and Azerbaijan lead in import of electricity to Georgia
Several low-cost airlines resume flights to Georgia
Azerbaijan-Belarus foreign trade operations for Jan. 2021 revealed
Azerbaijan confirms 124 more COVID-19 recoveries
Kazakhstan increasing control over development of oil and gas fields
State property privatization plan in Georgia surpasses initial plan
Cargo containers to pass through Azerbaijan towards Turkey, Europe - ADY Container
Rehabilitation centers can be established in Azerbaijan's liberated lands - Agency
Azerbaijan discloses number of imported cars in 2020
Uzbekistan’s 1M2021 profit for banks increases
Germany approves AstraZeneca for over-65s
New plant to be commissioned in Baku
Azerbaijan to receive Astra Zeneca vaccine via COVAX mechanism - WHO
Turkmengas opens again tender for operation of video surveillance system
Uzbekistan, Belarus agree to expand range of mutually supplied agricultural products
All news