In 2015 Azerbaijan manufactured over 150,000 tons of methanol

According to the Azerbaijan State Customs Committee, in 2015 Azerbaijan manufactured 153,300 tons of methanol.

The Committee claims that in 2014 the country did not manufacture this product. However, on December 25, 2014 the statement for press released by AzMeCo company, the only methanol manufacturer in Azerbaijan, read that since August till the end of 2014 the company could export 100,000 tons of methanol to the world market.

In 2015 the plant has suspended its operation several times. In early May the plant’s production lines were suspended, because of lack of raw material, as State Oil Company of Azerbaijan (SOCAR) has stopped gas supplies. The plant has resumed its operation in mid-September as soon as it received gas from Russia. However, the supplies have been stopped after a month. AzMeCo’s representatives said that the plant has imported only 100 million cub.m. of gas and the Russian gas price was so high that the manufactured methanol was not competitive at the world market.  After that there was no information about resumption of the plant’s operation in media – the company has no gas purchase agreement with SOCAR.

* Construction of the Azerbaijan methanol plant started in 2009. It was put into operation in 2013. About $450 million has been invested into its construction. However, it is unclear how the plant administration is going to pay off the credit allotted by the International Bank (IBA) and European Bank for Reconstruction and Development (EBRD).—0—