Laying the foundation of a new gas processing plant (GPP), which is in the petrochemical and oil refining complex of the State Oil Company of Azerbaijan (SOCAR) in Garadagh, is planned by the end of this year. This was announced today in an interview with reporters SOCAR vice president for strategic development Tofig Qahramanov.
According to him, they will soon announce a tender for the construction of gas processing plant. It is planned that, to determine the successful bidder will need six months. The same period will be ready detailed engineering a gas processing plant.
Processing capacity of the gas processing plant will be 12 billion cubic meters per year, but the first phase of the plant will be recycled lead only 6 billion cubic meters of "blue fuel".
According to the vice-president of SOCAR, the territory of the GPP is 4.5 hectares. Part of the complex will be located in Garadagh district of Baku and the other part - in the Absheron region. "The executive power of Baku has already allocated land for the gas processing complex, and in the near future is anticipated for the area under the GPP by the Executive Power of the Absheron region," said Qahramanov.
Based on the words of the representative of SOCAR, it can be concluded that the construction of a new gas processing plant will begin no earlier than 2014. To complete the construction work will take about three years.
Note that according to the preliminary data the cost of GPP will be $ 2.4 billion with no bank interest. - 12C
Economics
-
On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
-
Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
-
Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
-
Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
Leave a review