General Manager of SOCAR Polymer spoke about plans for development of petrochemical industry in Azerbaijan at conference in Moscow

Moscow. 6 April. REPORT.AZ/ A delegation of SOCAR Polymer headed by the General Manager Farid Jafarov took part in the international conference in Moscow entitled "Russia & CIS Petrochemicals Conference 2017".

Russian bureau of Report informs, speaking at the event, SOCAR Polymer General Manager Farid Jafarov told about the global growth of the petrochemical sector in the world and development of this industry in Azerbaijan. In particular, he touched upon the SOCAR GPC project worth more than $ 4 billion. 

The project envisages construction of a large oil and gas chemical plant in Garadagh district of Azerbaijan, including a steam cracker and a polymerization unit. Farid Jafarov told about the project advantages, particularly on state guarantees provided by Azerbaijan.

"SOCAR provides a guarantee of purchasing the entire volume of finished products of the plant, and this is about 610,000 tons of ethylene and 130,000 tons of propylene. 50% of production will be exported to Turkey. Other target markets are countries of Western and Central Europe, China, Russia and Azerbaijan. At present SOCAR selects sponsors and contractors for the project", Farid Jafarov said.

The project attracted interests of other participants of "Russia & CIS Petrochemicals Conference 2017”, who have expressed a desire to cooperate with SOCAR Polymer. The interest in the project was seen in turn lined up for the SOCAR Polymer General Manager after his report. However, Farid Jafarov did not yet disclose the details of the talks. He told reporters that Baku will play host to international conference on petrochemicals in November, where this and other projects of SOCAR Polymer will be discussed in details.

"We will bring participants of the future conference to our sites, in order to show them how we implement projects in the conditions of Azerbaijan. Such conferences are very useful, as they bring industry participants together: we discuss the pressing problems, share information and experience", SOCAR Polymer official said.

Notably, "Russia & CIS Petrochemicals Conference 2017” is one of the largest annual events in this industry. This year, with the support of the Ministry of Industry and Trade of the Russian Federation and largest petrochemical holding of Russia - Sibur, more than 300 largest companies of this sphere from all over the world gathered in Moscow.

Issues of strategic planning in the era of turbulence, financing of oil and gas chemistry projects, introduction of advanced technologies into the industry were discussed at the conference.