Azerbaijan's SOCAR Methanol reveals export volumes
BAKU, Azerbaijan, Aug. 15
By Nargiz Ismayilova – Trend:
Azerbaijan exported methanol in the amount of $25.3 million from January through July 2020, Trend reports referring to the State Customs Committee’s data.
During the reporting period, 253,903 tons of methanol (methyl alcohol) were exported from the country.
The share of methanol in Azerbaijan’s export for non-oil sector made up 2.4 percent, and in the total export volume – over 0.2 percent, according to the data.
Methanol is produced in the country by SOCAR Methanol LLC, the subsidiary of the State Oil Company of Azerbaijan (SOCAR).
SOCAR Methanol forecasts to produce methanol in the volume of 480,000 tons in 2020. In 2019, the plant produced 383,000 tons of methanol.
The plant is the only producer of methanol in the South Caucasus and Central Asia. It began to sell its products in January 2014.
The plant’s annual capacity is 650,000-700,000 tons. SOCAR acquired the plant from the Aqrarkredit Closed Joint-Stock Non-Banking Credit Organization.
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