During his visit to Azerbaijan, Israeli Finance Minister Avigdor Lieberman will hold talks on the purchase of various products. In particular, the sides will discuss the supply of urea, which is needed in Israel’s agriculture, Report informs referring to Fertilizer Daily.
The Carbamide Plant of the State Oil Company of Azerbaijan (SOCAR) will be the supplier of Israeli agricultural needs.
The publication noted that the urea plant was commissioned in January 2018. The investment in the plant amounted to 800 million euros. The urea plant consumes 435 million cubic meters of natural gas per year, which allows it to produce up to 660,000 tons of urea per year.
Fertilizer Daily writes that urea consumption in Azerbaijan does not exceed 150,000 tons per year: “Therefore, SOCAR exports it to various countries - Brazil, Georgia, Turkey, Moldova, Romania, Italy and Bulgaria. A large consignment of urea was recently sent to India. The supply of urea to Israel will allow it to expand its sales geography.”
Urea (nitrogen fertilizer) is produced at the SOCAR Carbamide Plant in the Sumgait Chemical Industrial Park. The urea plant is projected to produce 600,000 tons of products in 2022. These volumes are 244,700 tons or 68.9% more than the production of 2021.
Last year the plant's total production amounted to 355,300 tons, which is 197.3% more than in 2020.
Last year, the plant exported 323,400 tons of products, which is 366.3% more than in 2020.
In the first quarter of this year, the SOCAR Carbamide plant's exports to foreign markets increased 8 times and its value 33 times. The plant sold 53,400 tons of urea to the domestic market. This is 224% more than in the same period last year.