SOCAR to build oil, gas processing and petchem complex by 2030
The project includes a gas processing unit and a petrochemical plant to be constructed as part of the OGPC first phase and they are expected to be online by 2020. The gas processing unit will have a capacity of 12 billion cubic meters while there will be a 1.1 million tons/year petrochemical plant and 860,000 tons/year of polymer capacity. As a second phase of the project, a new refinery will be built with 9 million tons/year capacity which is expected to be launched in 2030.
The country’s growing domestic demand and low capacity of old refineries caused the company to decide to build the OGPC. The OGPC project will also improve the products’ quality and increase the exports of the country. The Azerbaijan government will fund 30% of the project while the rest will be met by borrowed funds.
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