SOCAR plans to begin construction of a new gas refinery to the south of Baku in mid-2014, a source from SOCAR told Turan.
The plant will be a part of a new petrochemical and oil refining complex (OGPC) with the initial cost of $17 billion (together with the bank interest rates).
SOCAR's representative also said that feasibility study of the gas refinery must be completed by the end of 2013. By that time it is planned to summarize results of the tender for construction of the future project. Then preparation for construction will begin and the actual construction works will begin in summer 2014.
The initial capacity of the gas refinery will be 6 billion cub.m. a year and then it is planned to double the refining capacity.
The new gas refinery will be built on the border of two regions - Baku's Garadag and Absheron. It will be located 60 km south of Baku.-0-
Economics
-
The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
-
"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
-
Данная инициатива направлена на цифровизацию процессов управления в сфере безопасности пищевых продуктов в Азербайджане, создание более эффективной и прозрачной системы за счет применения современных технологий.
-
Azerbaijan’s President Ilham Aliyev has signed a decree confirming an agreement between the governments of Azerbaijan and Russia aimed at boosting transit cargo shipments along the "North-South" international transport corridor.
Leave a review