Gazprom offers to supply gas to methanol plant in Azerbaijan

Baku. 22 June. REPORT.AZ/ Gazprom CEO Alexei Miller proposed to supply gas to "AzMeCo" methanol plant, during a meeting with president of the State Oil Company of Azerbaijan (SOCAR) Rovnag Abdullayev at Economic Forum in St. Petersburg in 2015.

Report was told in SOCAR. According to the information SOCAR leadership expressed its appreciation.

With the annual production capacity of 720 000 tons of methanol, "AzMeCo" was founded in 2007 and in December 2013 started the production.

Up to now, 193 thousand tons of products were produced in "AzMeCo", 191 thousand tons of them were sold. As a result Azerbaijan gains 44.5 million manats revenue from sale in 17 European countries, Israel and Turkey. The annual demand of gas in plant estimated at 600 million cubic meters.

An agreement on financing the construction of the "SOCAR Polymer" plant by "Gazprombank" involved in the production of polypropylene and polyethylene in Azerbaijan was signed in the framework of the Economic Forum in St. Petersburg, Russia. The document was signed by Gazprom CEO Alexei Miller and President of SOCAR, Rovnag Abdullayev. 10-year loan in the amount of 489 mln. dollars allocated by "Gazprombank" Investment Committee to "SOCAR Polymer".