Azerbaijan increases methanol exports

20 February 2020 18:06 (UTC+04:00)

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By Rasana Gasimova

Azerbaijan exported 39, 483 tons of methanol worth $3 million 948,360 in January 2020, the State Customs Committee has told local media.

The share of methanol in the country’s total exports during the reporting period amounted to 0.18 percent, while it accounted for 2.8 percent the non-oil exports.

In January 2020, Azerbaijan exported 63, 240 tons of chemical products worth $8 million 981,130, which exceeded that of the same period last year by 2.2 times in physical terms and by 33.9 percent in terms of value.

SOCAR Methanol LLC, the methanol plant of Azerbaijan’s State Oil Company (SOCAR) is the only plant of its kind in the South Caucasus and Central Asia regions.

In January 2020, the plant produced 42,800 tons of methanol, which is 42 percent more compared to January 2019.

Azerbaijan exports its methanol to the West through Georgia’s Kulevi Oil Terminal, the storage capacity of which is 20,000 cubic meters of methanol, and from the Baku Port through the Caspian Sea to Kazakhstan as well as to other international markets.

SOCAR Methanol Plant also plans to increase exports through the Caspian Sea via the Volga-Don Canal in future.

Approximately 400 employees are employed at the plant, which has an annual production capacity nearing 700,000 tons.

In 2019, Azerbaijan exported methanol worth $64.6 million.

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