Azernews.Az

By Nigar Abbasova

Azerbaijan’s state energy giant SOCAR signed licensing agreements with such companies as Technip, Univation Technologies, Axens and Sinopec Tech as part of the project on construction of Gas Processing and Petrochemical Complex (GPC) in Azerbaijan.

Under the agreement, SOCAR will get a license on the use of relevant technologies provided by the companies, while licensors, in turn, will provide certain engineering and design solutions for the project.

The financing of the project will be carried out within the Chinese Silk Road Economic Belt project.

SOCAR launched the GPC project to maximize added value of the upstream-midstream-downstream oil and gas chain and create a cutting-edge standard processing industry in Azerbaijan.

The primary purpose of the project is to provide the end users in the country with purified natural gas and ensure production of high value added polymers. Under the project, gas processing, and petrochemical plants will be built in Garadagh, 15 km south of Baku.

A gas processing plant will remove carbon dioxide and other toxic components. A petrochemical plant will comprise of a steam cracker, swing polyethylene unit and other units, while approximate annual production will amount to produce approximately 600,000 tons of polyethylene and 120,000 tons of propylene.

Polyethylene and polypropylene produced in Azerbaijan, which will meet the highest international quality standards are planned to be exported to Turkey, the EU, China and other countries.

The project is deemed to mark the beginning of a new era in development of Azerbaijan’s petrochemical industry and turn the country into a major player in the industry.

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Nigar Abbasova is AzerNews’ staff journalist, follow her on Twitter: @nigyar_abbasova

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