Azerbaijan increases methanol exports by about 59%  

In November 2022, Azerbaijan exported $7.8 million worth of methanol (methyl alcohol), $8.1 million, or 2.04 times less than the previous year, Report informs, citing the Center for Analysis of Economic Reforms and Communication.

In January-November 2022, Azerbaijan exported $120.7 million worth of methanol (methyl spirit), which is $44.6 million or 58.6% more than the previous year.

In January-November 2022, total exports of Azerbaijan amounted to $36.3 billion, and the exports of the non-oil sector stood at $2.7 billion.

The methanol plant was commissioned in 2013. The plant has been operating under SOCAR Methanol LLC, a subsidiary of SOCAR, since 2016, and in August 2017, it became the company's property. The plant has the capacity to produce 650,000-700,000 tons of methanol per year. Natural gas and saltwater are used as raw materials in production.