Azerbaijan exports methanol worth $12.4 mln

In January-April 2020, Azerbaijan exported 123,700 tonnes of methanol (methyl alcohol) worth $12.4 million, Report informs, citing the State Customs Committee (SCC).

Methanol constituted 2.25% of export on the non-oil sector.

Methanol is produced by SOCAR Methanol Plant, an only Methanol plant in the Caucasus, which is located in the Garadagh district of Baku and has been operational since 2013. In November 2016, SOCAR Methanol LLC, a SOCAR subsidiary, took over the management of the plant. Since October 2018, it has been incorporated into SOCAR's structure and is currently operating as the SOCAR Methanol Plant. Nearly 400 employees are employed at the factory, which has an annual production capacity of 650-700,000 tonnes.