Azerbaijan nearly triples income from methanol exports

In January-August of this year, Azerbaijan exported $92.5 million worth of methanol (methyl alcohol), $59.5 million or 2.8 times more than the last year, Report informs, citing the Center for Analysis of Economic Reforms and Communication.

In August 2022, Azerbaijan exported $11.2 million worth of methanol (methyl spirit), which is $1.5 million or 15.5% more than August 2021.

In January-August of this year, the total export of Azerbaijan was $26.2 billion, and the export of the non-oil sector was $1.9 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 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.