SOCAR aims for 2m tonne/yr capacity at Azerbaijan complex
22 February 2012 17:17 [Source: ICIS news]
LONDON (ICIS)--The State Oil Company of the Azerbaijan Republic (SOCAR) is confident of striking deals with investors that will see more than 2m tonne/year of base polymer capacity created at a planned $15bn (€11.3bn) refining-gas-petrochemicals complex, the company said on Wednesday.
SOCAR will unveil more information about its plans for the New Oil and Gas Processing and Petrochemical Complex (OGPC) at a 10-12 April project forum in the Azerbaijani capital Baku, it added.
To date, the company has disclosed that it wants to include polyethylene (PE) and polypropylene (PP) installations with capacities of 670,000 tonne/year and 550,000 tonne/year, respectively, at OGPC, along with a 10m tonne/year oil refinery and a 10bn cubic metres/year gas processing plant.
The gas plant would produce output including petrochemical feedstock ethane, SOCAR added.
The initial part of the complex, to be located outside Baku, should be commissioned at the turn of 2017-2018, with the entire site scheduled to begin operating by 2020, it said.
Air Liquide, Air Products, Dow Chemical, Foster Wheeler, KBR, LANXESS, Marubeni Specialty Chemicals, Mitsui, Petkim and Shaw Energy & Chemicals are among companies that have already agreed to participate in the forum, SOCAR said.
($1 = €0.75)By: Will Conroy+44 20 8652 3214
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