AzMeCo Exports 100,000 Tons of Methanol

Azerbaijani Methanol Company (AzMeCo) has exported to world markets 100,000 tons of methanol produced since August 2014, the company said. The company's revenue is not reported.

Methanol was delivered to the clients through the port of Baku and the Georgian ports of Poti and Kulevi. To the sales ports methanol was delivered in AzMeCo owned railcars. This product was exported to Turkey, Romania, Slovenia, Holland and Belgium.

The main buyer of methanol produced at the plant AzMeCo is BP.

During the period mentioned, mainly the Georgian port of Kulevi was used for the sale of methanol.

In addition, the company has introduced innovations in the sale and transportation of methanol. For the first time transport of methanol was carried out through the Volga-Don Canal and its large-scale loading at the ports of Poti and Kulevi was held for the first time.

"The completion of the methanol plant in Azerbaijan and its successful operation is an excellent example of private sector support from the leadership of the country. The plant for the production of methanol from natural gas is one of the largest investments in the non-oil sector of the country," said the chairman of the Board of Directors of AzMeCo, Nizami Piriyev.

AzMeCo was founded in 2007 on the basis of private capital for investment in petrochemical projects as an owner and operator. The annual production capacity of the methanol plant built in the Garadagh district of Baku is 560 000 tons. In the near future the capacity will be increased to 720 000 tons per year. The company employs 440 people.

Note that the global methanol prices start at $ 350 and reach $ 1,000, depending on the quality indicators. –08B-