This year Azerkhimiya company, owned by SOCAR, will start construction of ammonia and carbamide plant with the capacity of 680,000 tons in Sumgait city, Muhtar Babayev, General Director of Azerkhimiya, said at the conference entitled “Russian and CIS Petrochemistry 2013” organized by Global Business Club company.
He said it is planned to build the similar plant in the neighboring Georgia.
Babayev added that in 2014 SOCAR plans to start construction of a new gas refinery, which will be able to refine 12 billion cub.m. of gas (two lines of 6 billion cub.m. each). The construction is planned to be completed in 2017. The plant’s raw materials will be used for the ethylene installation on Azerkhimiya.
Azerkhimiya has been reconstructing the ethylene installation and considers possibility of its expanding from 300,000 to 450,000 tons. The project will be implemented by Technip company.
Azerkhimiya has been also working on the construction of low pressure polyethylene and polypropylene installations. The projects were planned in the Soviet times, but that time their funding was suspended after the USSR collapse, Babayev explained.
“Since that time the raw materials have changed in the country, because petrol consumption has increased. As a result of that the share of naphtha in petrochemistry decreased to 40% and the remaining were gases,” he added.
SOCAR has been working on construction of oil and gas refining and petrochemical complex in Baku’s Garadag region. The complex is planned to be put into operation in 2018-2020. The petrochemical complex will be put into operation at the second stage and then the oil refinery with the capacity of 10 million tons a year. A-92, A-95, A-98, jet and diesel fuel are planned to be manufactured at the oil refinery.—0-
Economics
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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.
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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.
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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.
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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.
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