Azerbaijan triples revenues from methanol exports in September

In September 2021, Azerbaijan exported methanol worth $15.7 million, Report informs, referring to the October issue of the Export Review of the Center for Analysis of Economic Reforms and Communication. Under the report, this is $10.4 million, or 3 times more than in the same month last year.

Methanol is produced at the Methanol Plant of the State Oil Company of Azerbaijan (SOCAR) in the Garadagh district of Baku. The plant, which was commissioned in 2013, has been operating under the management of SOCAR's subsidiary, SOCAR Methanol LLC, since 2016, and in August 2017 became the property of the company. The plant has the capacity to produce 650,000-700,000 tons of methanol per year. Natural gas and salted water are used as raw materials in production.