SOCAR to build new petchem, gas complex in Baku

According to media reports, the State Oil Company of Azerbaijan (SOCAR) is planning to launch a new petrochemical and gas processing complex, named Socar GPC, in Baku in Q1 of 2022.

The company expects the financial agreement to be signed in late 2017 or early 2018 and the project will cost $4 billion, the reports revealed.

The company also added that the 50% of the output from the new complex will be sold to Turkey while the Middle East, China and Europe are also seen as potential markets.

The gas processing complex is expected to have a capacity of 10 billion cubic meters a year while the complex is also planned to have a steam cracker with a 570,000 tons/year of ethylene and a 120,000 tons/year of propylene, a 570,000 tons/year LLDPE/HDPE swing plant.