License agreements inked as part of SOCAR GPC project

Baku. 20 December. REPORT.AZ/ Technology license agreements were signed between the State Oil Company of Azerbaijan Republic (SOCAR) and "Technip", "Univation", "Axens" and "SinopecTech" which have important technologies in petrochemical industry.

Report informs referring to SOCAR, the deals inked for perfect processing of natural gas and production of high-quality polymer products using modern technology as part of SOCAR GPC project.

Under the agreement, SOCAR gets a license for use of technology within the framework of the project, the companies that give a license to SOCAR providing for engineering and design solutions for gas processing and gas chemical plants that will be built in 15 km of Baku city, Garadag.

The event have started with a minute of silence for oil workers who went missing on December 15, during the accident at the platform of the Oil and Gas Production Department named after N. Narimanov, as well for Russian ambassador Andrey Karlov who shot dead yesterday in Ankara as a result of terrorist attack.

After a short video about SOCAR GPC project, SOCAR President Rovnag Abdullayev welcomed the participants, spoke about achievements of Azerbaijan in new energy strategy, the success of this strategy in the context of regional and international projects and about close relations of SOCAR with those foreign companies during implementation of the projects.

Then participants of the project, "Sinopec" Deputy General Manager for Technical Issues Zhu Yinguan, President of "Univation Technologies" Steve Stanley, Sales Director at Axens SA Fabien Lundy ,President of "Technip EMIA" Marco Villa, Executive Vice President of "China Huanqiu Contracting & Engineering; Corporation"- HQC Jang Laiyonq, Vice President and General Manager for Engineering of "Fluor" Marc van Heyningen addressed the event.

It was noted that the project which is of a great importance for Azerbaijan will be financed within the China's Silk Road economic belt project. SOCAR GPC project envisages export of natural gas and gas condensate produced from the processing of raw materials, C2+ fractions polymerization, polyethylene and polypropylene products to Turkey, Western Europe and China. Polyethylene exports are projected to begin in 2022.

The contracts was signed by the SOCAR President Rovnag Abdullayev, "Sinopec" Deputy General Manager for Technical Issues Zhu Yinguan, President of "Univation Technologies" Steve Stanley, Sales Director at Axens SA Fabien Lundy and President of "Technip EMIA" Marco Villa.

The event was attended by the US Ambassador to Azerbaijan Robert F. Cekuta, French Ambassador Aurelia Bouchez, Ambassador of Italy Giampaolo Cutillo and Chinese Ambassador Hong Jiuyin.