SOCAR eyes to build methanol plant in Russia
By Sara Israfilbayova
The State Oil Company of Azerbaijan SOCAR has plans to build a methanol plant in Russia.
Director General of SOCAR Polymer Farid Jafarov made the remarks on the sidelines of the 9th Azerbaijan-Russian Interregional Forum.
“Negotiations are underway with a Russian company on the construction of a methanol plant in Russia. This is a large-scale production. Our company plans to scale up the experience of SOCAR Polymer,” Jafarov noted.
He added that the project could be profitable and competitive due to the attractive price for gas in Russia. It is assumed that the production will use Russian raw materials.
In turn, Executive Chairman of SOCAR Trading Adnan Ahmadzade noted that the company is negotiating the extension of the purchase of Russian oil from the Korchagin field for transportation through Baku-Ceyhan to international markets.
“Russian oil has been supplied via the Baku-Ceyhan pipeline from the Korchagin field for five years. About 2 million tons are supplied every year. Now the contract is ending, we are negotiating to extend it,” said Ahmadzade.
Further, he went on to say that Azerbaijan plans to export 1.5 million tons of oil via the Baku-Novorossiysk pipeline in 2019.
He also mentioned that presently negotiations are underway with a Russian company on the possibility of building a methanol plant in Russia.
SOCAR pumped 1.5 million tons of oil via the Baku-Novorossiysk pipeline in 2017 compared to 1.3 million tons in 2016.
The Baku-Novorossiysk pipeline is 1,147 kilometers long. The length of its Azerbaijani section is 231 kilometers and Russian section is 916 kilometers long. The pipeline was filled with oil in October 1996, according to SOCAR. Its highest capacity stands at 105,000 barrels a day.
In 2018, SOCAR plans to pump about 1.5 million tons of oil, produced at onshore and offshore fields of Azerbaijan, via the Baku-Novorossiysk pipeline.
SOCAR is a wholly state-owned national oil company headquartered in Baku, Azerbaijan. The company produces oil and natural gas from onshore and offshore fields in the Azerbaijani section of the Caspian Sea.
The company includes three production associations, one oil refining and gas processing enterprise, an oil flotilla, a deep-water base plant, two trusts, one institute, and 23 structures.
SOCAR established joint companies (including Georgia and Turkey), alliances, operating in various sectors of oil and gas spheres. It has representative offices in Georgia, the U.S., Turkey, Romania, Austria, Switzerland, Kazakhstan, Great Britain, Iran, Germany, Ukraine, Belgium and Canada.
---
Sara Israfilbayova is AzerNews’ staff journalist, follow her on Twitter: @Sara_999Is
Follow us on Twitter @AzerNewsAz