SOCAR intends to expand CNG sale

Baku. 19 September. REPORT.AZ/ The State Oil Company of Azerbaijan (SOCAR) plans to expand the sale of Compressed Natural Gas (CNG) in the coming years, SOCAR President Rovnag Abdullayev said at the ceremony dedicated to September 20 – Oilmen's Day.

He reminded that SOCAR took steps for formation of CNG market for the first time: "Despite the CNG is a less popular fuel, global demand for it is increasing. The forecasts show that the demand will nearly quadruple by 2025."

The number of vehicles consuming CNG around the world is over 26 million, while the number of filling stations is more than 31,000.

According to the International Association for Natural Gas Vehicles (IANGV), the market of natural gas vehicles has increased by two-digit index in the recent years.  This fuel is mostly used in China, Iran, India, Pakistan, Argentine, Brazil, Italy and a number of European countries.

CNG is cheaper than gasoline and diesel. According to calculations, the CNG allows fuel consumption to be reduced by AZN 600 in every 10,000 km.

SOCAR Petroleum intends to continue this project in Azerbaijan. Five CNG stations are planned to be launched in Baku in August-October. By the end of this year, five more stations are planned to be launched in Baku and surrounding regions. In 2019, the number of the CNG stations is expected to reach 20.