SOCAR Methanol starts selling new product
By Trend
SOCAR Methanol LLC, the methanol plant of Azerbaijan’s state oil company SOCAR, has started selling a new product, methanol reagent, SOCAR said in a message.
The product is used as a chemical reagent in laboratories. SOCAR Methanol offers customers methanol reagent in different containers. Contracts with several Azerbaijani companies have already been signed.
Along with the domestic market, SOCAR plans to provide laboratories in Turkey, countries of the CIS and Western Europe with methanol reagent, according to the message.
Production of methanol at Azerbaijan’s methanol plant, the only plant of this kind in the South Caucasus and Central Asia, started in January 2014.
The plant’s annual capacity is 650,000-700,000 tons. SOCAR acquired the plant from the Aqrarkredit non-bank credit organization. The plant cost was estimated at $520 million.
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