OguzSenturk
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Azerbaijanis deserve best. I love to see developing Azerbaijan.
Economic Development in Azerbaijan
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Azeri440
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Azerbaijan's SOCAR buys seven oil tankers to boost trading business
MOSCOW, March 10 (Reuters) - Azeri state energy company SOCAR added seven oil tankers to its fleet last month to expand its transport capacity in the Mediterranean and Caspian seas, an executive with SOCAR's trading unit said.
SOCAR, which set up its trading unit in 2008, has been expanding its oil and oil products trading and logistics operations in Europe.
"This (deal) is part of our strategy of competing for market share. Control over logistics gives advantages ... when implementing trading strategies," Arzu Azimov, the Geneva-based head of SOCAR Trading, told Reuters.
The deal, which was closed last month, gives SOCAR access to two Suezmax-class tankers with deadweight of 140,000 tonnes each and five Aframax-class tankers with 80,000 tonnes capacity each.
The new tankers are significantly bigger than oil tankers currently in SOCAR's fleet of around 30 ships, which have a deadweight of between 5,000 to 15,000 tonnes.
SOCAR bought the seven tankers from Turkey-based Palmali, one of the biggest shippers in the Caspian region, Azimov said.
Azimov and a Palmali representative would not comment on the value of the deal.
Even with the new ships, SOCAR remains a smaller player than some other operators based the Mediterranean, such as Greece's TMS which owns more than 20 Aframax and around 10 Suezmax tankers and three VLCC super-tankers.
As part of its efforts to expand beyond oil production, SOCAR last year leased an oil products terminal in the Black Sea port of Odessa in Ukraine and an oil products terminal in Russia's Baltic Sea port of Ust Luga.
SOCAR already owns the Black Sea Kulevi oil terminal and port in Georgia, gas stations in Ukraine, Romania and Georgia, as well as a 51 percent stake in Turkish Petkim Petrochemicals Holding, which produces petrochemicals.
Separately, SOCAR Trading said on Friday its estimated market value stood at about $1.15 billion as of the end of June 2016. (Additional reporting by Nailia Bagirova in Baku and Margarita Antidze in Tbilisi; Writing by Katya Golubkova; Editing by Edmund Blair)
http://timesofindia.indiatimes.com/...ost-trading-business/articleshow/57579111.cms
Astara-Iran railway link
@Serpentine
MOSCOW, March 10 (Reuters) - Azeri state energy company SOCAR added seven oil tankers to its fleet last month to expand its transport capacity in the Mediterranean and Caspian seas, an executive with SOCAR's trading unit said.
SOCAR, which set up its trading unit in 2008, has been expanding its oil and oil products trading and logistics operations in Europe.
"This (deal) is part of our strategy of competing for market share. Control over logistics gives advantages ... when implementing trading strategies," Arzu Azimov, the Geneva-based head of SOCAR Trading, told Reuters.
The deal, which was closed last month, gives SOCAR access to two Suezmax-class tankers with deadweight of 140,000 tonnes each and five Aframax-class tankers with 80,000 tonnes capacity each.
The new tankers are significantly bigger than oil tankers currently in SOCAR's fleet of around 30 ships, which have a deadweight of between 5,000 to 15,000 tonnes.
SOCAR bought the seven tankers from Turkey-based Palmali, one of the biggest shippers in the Caspian region, Azimov said.
Azimov and a Palmali representative would not comment on the value of the deal.
Even with the new ships, SOCAR remains a smaller player than some other operators based the Mediterranean, such as Greece's TMS which owns more than 20 Aframax and around 10 Suezmax tankers and three VLCC super-tankers.
As part of its efforts to expand beyond oil production, SOCAR last year leased an oil products terminal in the Black Sea port of Odessa in Ukraine and an oil products terminal in Russia's Baltic Sea port of Ust Luga.
SOCAR already owns the Black Sea Kulevi oil terminal and port in Georgia, gas stations in Ukraine, Romania and Georgia, as well as a 51 percent stake in Turkish Petkim Petrochemicals Holding, which produces petrochemicals.
Separately, SOCAR Trading said on Friday its estimated market value stood at about $1.15 billion as of the end of June 2016. (Additional reporting by Nailia Bagirova in Baku and Margarita Antidze in Tbilisi; Writing by Katya Golubkova; Editing by Edmund Blair)
http://timesofindia.indiatimes.com/...ost-trading-business/articleshow/57579111.cms
Astara-Iran railway link
@Serpentine
Azeri440
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UNIPOL PE PROCESS TECHNOLOGY SELECTED FOR SOCAR GPC PLANT
SOCAR GPC (www.socargpc.az), a gas-processing project of the State Oil Company of Azerbaijan Republic (SOCAR), has selected UNIPOL PE Technology licensed by Univation Technologies (Houston; www.univation.com) for use in its world-scale polyethylene (PE) plant to be built in Garadagh, Azerbaijan. This project represents the first UNIPOL PE Process licensed in Azerbaijan and by SOCAR.
The new polyethylene facility will have be designed to produce 600,000 metric tons per year (m.t./yr) of polyethylene, and will take advantage of the flexibility of the UNIPOL PE Process to manufacture conventional and advanced polyethylene products covering a broad range of both high-density polyethylene (HDPE), including HDPE injection molding grades, as well as linear low-density polyethylene (LLDPE) resin grades.
SOCAR GPC has also selected Univation’s XCAT Metallocene Polyethylene Technology for the manufacture of advanced metallocene film structures suitable for high-performance food packaging, stretch-wrap, heavy-duty sack and specialized multi-layer applications.
Production output from this new PE plant will be focused on satisfying growing polyethylene demand in both domestic and European markets in a wide range of goods.
As part of the Univation-Linde Alliance, Linde AG (Engineering Division) will complete the basic engineering design package (BEDP) for the project. In 2016, Univation and Linde Engineering entered into an Alliance relationship focused on delivering operating and capital cost advantages for both new build and retrofit projects for UNIPOL PE Technology.
“We are honored that SOCAR GPC has selected UNIPOL PE Technology as a key element in achieving their company’s vision for this exciting, new world-scale polyethylene project,” said Steven Stanley, President of Univation Technologies. “We look forward to working with both SOCAR GPC and Linde Engineering as together we move this project to a safe and successful start-up.”
According to SOCAR President Rovnag Abdullayev, choosing the UNIPOL PE Process for its proven, reliable manufacturing capability was critical in reaching the goals for the overall SOCAR GPC facility. Abdullayev stated, “The SOCAR GPC project is a significant cornerstone in creating an Azerbaijan-focused manufacturing hub that will include local end-use convertors and suppliers – and we are excited at the prospect of achieving greater value capture across the entire polyethylene conversion chain.”
Abdullayev continued, “The reliability and flexibility of the UNIPOL PE Process is a critical enabler for SOCAR GPC to participate in a broad variety of both domestic and export market segments including HDPE applications as well as conventional and metallocene-based LLDPE applications. We have confidence that this project’s success will allow SOCAR GPC to achieve our company’s goals of creating significant value for our customers, contributing to the growth of the Azerbaijan economy, and creating job opportunities for the local workforce.”
http://www.chemengonline.com/unipol-pe-process-technology-selected-for-socar-gpc-plant/?printmode=1
Petlim Port, First Foreign, Azerbaijani Owned Port.
SOCAR GPC (www.socargpc.az), a gas-processing project of the State Oil Company of Azerbaijan Republic (SOCAR), has selected UNIPOL PE Technology licensed by Univation Technologies (Houston; www.univation.com) for use in its world-scale polyethylene (PE) plant to be built in Garadagh, Azerbaijan. This project represents the first UNIPOL PE Process licensed in Azerbaijan and by SOCAR.
The new polyethylene facility will have be designed to produce 600,000 metric tons per year (m.t./yr) of polyethylene, and will take advantage of the flexibility of the UNIPOL PE Process to manufacture conventional and advanced polyethylene products covering a broad range of both high-density polyethylene (HDPE), including HDPE injection molding grades, as well as linear low-density polyethylene (LLDPE) resin grades.
SOCAR GPC has also selected Univation’s XCAT Metallocene Polyethylene Technology for the manufacture of advanced metallocene film structures suitable for high-performance food packaging, stretch-wrap, heavy-duty sack and specialized multi-layer applications.
Production output from this new PE plant will be focused on satisfying growing polyethylene demand in both domestic and European markets in a wide range of goods.
As part of the Univation-Linde Alliance, Linde AG (Engineering Division) will complete the basic engineering design package (BEDP) for the project. In 2016, Univation and Linde Engineering entered into an Alliance relationship focused on delivering operating and capital cost advantages for both new build and retrofit projects for UNIPOL PE Technology.
“We are honored that SOCAR GPC has selected UNIPOL PE Technology as a key element in achieving their company’s vision for this exciting, new world-scale polyethylene project,” said Steven Stanley, President of Univation Technologies. “We look forward to working with both SOCAR GPC and Linde Engineering as together we move this project to a safe and successful start-up.”
According to SOCAR President Rovnag Abdullayev, choosing the UNIPOL PE Process for its proven, reliable manufacturing capability was critical in reaching the goals for the overall SOCAR GPC facility. Abdullayev stated, “The SOCAR GPC project is a significant cornerstone in creating an Azerbaijan-focused manufacturing hub that will include local end-use convertors and suppliers – and we are excited at the prospect of achieving greater value capture across the entire polyethylene conversion chain.”
Abdullayev continued, “The reliability and flexibility of the UNIPOL PE Process is a critical enabler for SOCAR GPC to participate in a broad variety of both domestic and export market segments including HDPE applications as well as conventional and metallocene-based LLDPE applications. We have confidence that this project’s success will allow SOCAR GPC to achieve our company’s goals of creating significant value for our customers, contributing to the growth of the Azerbaijan economy, and creating job opportunities for the local workforce.”
http://www.chemengonline.com/unipol-pe-process-technology-selected-for-socar-gpc-plant/?printmode=1
Petlim Port, First Foreign, Azerbaijani Owned Port.
Azeri440
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10th Boeing 747 for Silk Way Airlines
Azerbaijan Caspian Shipping and Kazakhstan Railways creating joint venture in field of freight traffic
Azerbaijan Caspian Shipping CJSC and Kazakhstan Railways JSC have signed an agreement on creating a joint venture in the field of freight traffic on the Trans-Caspian International Transport Route (TCITR), the Azerbaijani company said.
The agreement on creation of the JV was signed by Head of Azerbaijan Caspian Shipping Rauf Valiyev and President of Kazakhstan Railways Kanat Alpysbayev in Baku. The document is a main part of the agreement on strategic cooperation signed between the two sides in December 2016.
As is stated, “the joint venture’s creation will give a momentum to the development of the TCITR, implementation of its potential and its effective use, and will become effective after the full commissioning of the Baku International Sea Trade Port and Kazakhstan’s Kuryk port, as well as the Baku-Tbilisi-Kars railway”. Moreover, Azerbaijan and Kazakhstan are planning to use unique ferries on the Caspian Sea, and the signed agreement will be useful for these ferries’ operation.
Azerbaijan owns fifty percent of the JV’s shares, while the remaining part is owned by Kazakhstan.
The Trans-Caspian International Transport Route runs through China, Kazakhstan, Azerbaijan, Georgia and then through Turkey and Ukraine to Europe. New competitive tariffs were introduced for the Trans-Caspian International Transport Route since June 1, 2016.
http://azertag.az/en/xeber/Azerbaij...t_venture_in_field_of_freight_traffic-1047904
Kazakhstan plans to export over 450,000 tons of gas oil via the new Kuryk port and then through Azerbaijan and Georgia until late 2017
Kazakhstan plans to export over 450,000 tons of gas oil via the new Kuryk port and then through Azerbaijan and Georgia until late 2017, Head of Kazakhstan Railways National Company Kanat Alpysbayev told reporters in Baku.
He made the remarks on the sidelines of the general meeting of the Union of Legal Entities of the “Trans-Caspian International Transport Route” association.
He noted that currently the work is underway to expand the line of cargoes transported through the port of Kuryk, and first of all, the export of goods from Kazakhstan is being considered.
Also, the opportunities for the transportation of transit cargo, for example, raw sugar, in the volume of over 150,000-200,000 tons back to Uzbekistan before the end of the year through the Kuryk port are being worked out, he added.
Alpysbayev said that more than 15,000 tons of cargoes have been transported through the port of Kuryk so far.
“Until the end of the year, it is planned to transport about one million tons of cargoes in all directions,” he said.
The first cargo arrived at the Baku International Sea Trade Port from Kazakhstan’s new port Kuryk in Alat on March 25, 2017.
The Kuryk port with a total area of 40 hectares is located on the Trans-Caspian international transport route, which is of great importance for handling the cargo going via this route.
The new complex is located closer to the Baku port, than the Aktau port, through which transit was carried out previously. The voyage from Kuryk to Baku takes 18 hours.
http://www.azernews.az/business/110871.html
Azerbaijan Caspian Shipping and Kazakhstan Railways creating joint venture in field of freight traffic
Azerbaijan Caspian Shipping CJSC and Kazakhstan Railways JSC have signed an agreement on creating a joint venture in the field of freight traffic on the Trans-Caspian International Transport Route (TCITR), the Azerbaijani company said.
The agreement on creation of the JV was signed by Head of Azerbaijan Caspian Shipping Rauf Valiyev and President of Kazakhstan Railways Kanat Alpysbayev in Baku. The document is a main part of the agreement on strategic cooperation signed between the two sides in December 2016.
As is stated, “the joint venture’s creation will give a momentum to the development of the TCITR, implementation of its potential and its effective use, and will become effective after the full commissioning of the Baku International Sea Trade Port and Kazakhstan’s Kuryk port, as well as the Baku-Tbilisi-Kars railway”. Moreover, Azerbaijan and Kazakhstan are planning to use unique ferries on the Caspian Sea, and the signed agreement will be useful for these ferries’ operation.
Azerbaijan owns fifty percent of the JV’s shares, while the remaining part is owned by Kazakhstan.
The Trans-Caspian International Transport Route runs through China, Kazakhstan, Azerbaijan, Georgia and then through Turkey and Ukraine to Europe. New competitive tariffs were introduced for the Trans-Caspian International Transport Route since June 1, 2016.
http://azertag.az/en/xeber/Azerbaij...t_venture_in_field_of_freight_traffic-1047904
Kazakhstan plans to export over 450,000 tons of gas oil via the new Kuryk port and then through Azerbaijan and Georgia until late 2017
Kazakhstan plans to export over 450,000 tons of gas oil via the new Kuryk port and then through Azerbaijan and Georgia until late 2017, Head of Kazakhstan Railways National Company Kanat Alpysbayev told reporters in Baku.
He made the remarks on the sidelines of the general meeting of the Union of Legal Entities of the “Trans-Caspian International Transport Route” association.
He noted that currently the work is underway to expand the line of cargoes transported through the port of Kuryk, and first of all, the export of goods from Kazakhstan is being considered.
Also, the opportunities for the transportation of transit cargo, for example, raw sugar, in the volume of over 150,000-200,000 tons back to Uzbekistan before the end of the year through the Kuryk port are being worked out, he added.
Alpysbayev said that more than 15,000 tons of cargoes have been transported through the port of Kuryk so far.
“Until the end of the year, it is planned to transport about one million tons of cargoes in all directions,” he said.
The first cargo arrived at the Baku International Sea Trade Port from Kazakhstan’s new port Kuryk in Alat on March 25, 2017.
The Kuryk port with a total area of 40 hectares is located on the Trans-Caspian international transport route, which is of great importance for handling the cargo going via this route.
The new complex is located closer to the Baku port, than the Aktau port, through which transit was carried out previously. The voyage from Kuryk to Baku takes 18 hours.
http://www.azernews.az/business/110871.html
Azeri440
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Azerbaijan will invest further into railways to provide connections to airport, Shahdagh and Qabala Winter Resorts,
next project is to also establish railway connection to Nakhchivan through Iran, once connection to Iran is completed, connection will allow industrial growth in Nakhchivan for domestic use and export through Baku Port, Baku - Tbilisi - Kars and etc. in 2017 Baku - Ganja High Speed Rail connection will be completed, connection to Iran will be fully completed and Baku - Tbilisi - Kars will be completed.
next project is to also establish railway connection to Nakhchivan through Iran, once connection to Iran is completed, connection will allow industrial growth in Nakhchivan for domestic use and export through Baku Port, Baku - Tbilisi - Kars and etc. in 2017 Baku - Ganja High Speed Rail connection will be completed, connection to Iran will be fully completed and Baku - Tbilisi - Kars will be completed.
asena_great
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piece of paradiseCaspian Coast Tourist-Leisure City
Baku Metro Expansion
Azeri440
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Silk Way Airlines to purchase Boeing-737 MAX aircraft for $1B
Azerbaijan’s Silk Way Airlines and the U.S. aerospace company Boeing have signed a contract for the purchase of ten passenger aircrafts Boeing-737 MAX.
The document was signed President of Silk Way Holding Zaur Akhundov and Senior Vice President of Boeing company Marty Bentrott in Baku on April 14 by.
The ceremony was attended by the President of Azerbaijan Airlines CJSC (AZAL) Jahangir Askerov and US Extraordinary and Plenipotentiary Ambassador to Azerbaijan Robert Cekuta.
Total cost of the contract is about $1 billion.
http://www.azernews.az/business/111509.html
Azerbaijan’s Silk Way Airlines and the U.S. aerospace company Boeing have signed a contract for the purchase of ten passenger aircrafts Boeing-737 MAX.
The document was signed President of Silk Way Holding Zaur Akhundov and Senior Vice President of Boeing company Marty Bentrott in Baku on April 14 by.
The ceremony was attended by the President of Azerbaijan Airlines CJSC (AZAL) Jahangir Askerov and US Extraordinary and Plenipotentiary Ambassador to Azerbaijan Robert Cekuta.
Total cost of the contract is about $1 billion.
http://www.azernews.az/business/111509.html
Mr.Department
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Azeri440
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Diamond Aircraft Industries to open a plant in Azerbaijan, Ganja.
At first phase the plant will focus on assembly and maintenance of light aircraft, at next phase plant will focus on
assembly of helicopters. This is the 2nd aviation plant after Antonov deal, Azerbaijan is also negotiation on opening Irkut MC-21 production line in Azerbaijan. Starting 2018, Azerbaijan will be producing up to 15 An-178 cargo aircraft.
http://ru.oxu.az/economy/188641
At first phase the plant will focus on assembly and maintenance of light aircraft, at next phase plant will focus on
assembly of helicopters. This is the 2nd aviation plant after Antonov deal, Azerbaijan is also negotiation on opening Irkut MC-21 production line in Azerbaijan. Starting 2018, Azerbaijan will be producing up to 15 An-178 cargo aircraft.
http://ru.oxu.az/economy/188641
Azeri440
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SOCAR inaugurates gas terminal and power plant in Malta
On April 24, the city of Marsaxlokk in Malta hosted the opening ceremony of the gas terminal and power plant built by ElectroGas Malta, partially owned by SOCAR Trading.
Report informs, that by supplying natural gas to Malta in the form of LNG to the new power plant and the state-owned energy company Enemalta, the State Oil Company of Azerbaijan Republic (SOCAR) has created favorable conditions in the country for a complete switch from fuel oil as a source of electricity generation, which was the main theme of the event.
In the first part of the event, Maltese Prime Minister Joseph Muscat accompanied by officials and Marsaxlokk residents held a symbolic decommissioning ceremony of Delimara-1 station operating on fuel oil. In his speech, J. Muscat stressed that the scrupulous work of ElectroGas Malta, with support of its shareholders SOCAR Trading, Siemens PV and GEM Holding, has allowed to reduce price of electricity by 25% and emissions into the atmosphere by 90%.
https://report.az/en/energy/malta-i...al-and-power-plant-built-by-electrogas-malta/
SOCAR Trading: LNG terminal construction in Côte d'Ivoire starts by year end
Construction of terminal in Côte d'Ivoire for import of LNG (liquefied natural gas) with participation of the State Oil Company of Azerbaijan Republic (SOCAR) will start by year end.
Report informs, Chairman of Development and Investments Department of SOCAR Trading (SOCAR's trade house) Togrul Kocharli said at the SOCAR 2nd International Caspian and Central Asia Downstream Forum – Trading, Logistics, Refining, Petrochemicals.
"After Malta we have entered a second project of 2016 in Côte d'Ivoire for producing electric power from LNG. Work on this project is underway and construction is expected to start by year end”, he noted.
According to him, supply is expected to start by mid-2019.
Notably, in November 2016 SOCAR acquired 26% shares of the consortium established by French oil and gas company Total and Côte d'Ivoire State Oil Company for construction of LNG import terminal. Total holds 34%, SOCAR 26%, Côte d'Ivoire State Oil Company (Petroci) 16% at the newly established company Coted'Ivoire-GNL. Royal Dutch Shell had bought small part of shares.
https://report.az/en/energy/socar-t...truction-in-c-te-d-ivoire-starts-by-year-end/
On April 24, the city of Marsaxlokk in Malta hosted the opening ceremony of the gas terminal and power plant built by ElectroGas Malta, partially owned by SOCAR Trading.
Report informs, that by supplying natural gas to Malta in the form of LNG to the new power plant and the state-owned energy company Enemalta, the State Oil Company of Azerbaijan Republic (SOCAR) has created favorable conditions in the country for a complete switch from fuel oil as a source of electricity generation, which was the main theme of the event.
In the first part of the event, Maltese Prime Minister Joseph Muscat accompanied by officials and Marsaxlokk residents held a symbolic decommissioning ceremony of Delimara-1 station operating on fuel oil. In his speech, J. Muscat stressed that the scrupulous work of ElectroGas Malta, with support of its shareholders SOCAR Trading, Siemens PV and GEM Holding, has allowed to reduce price of electricity by 25% and emissions into the atmosphere by 90%.
https://report.az/en/energy/malta-i...al-and-power-plant-built-by-electrogas-malta/
SOCAR Trading: LNG terminal construction in Côte d'Ivoire starts by year end
Construction of terminal in Côte d'Ivoire for import of LNG (liquefied natural gas) with participation of the State Oil Company of Azerbaijan Republic (SOCAR) will start by year end.
Report informs, Chairman of Development and Investments Department of SOCAR Trading (SOCAR's trade house) Togrul Kocharli said at the SOCAR 2nd International Caspian and Central Asia Downstream Forum – Trading, Logistics, Refining, Petrochemicals.
"After Malta we have entered a second project of 2016 in Côte d'Ivoire for producing electric power from LNG. Work on this project is underway and construction is expected to start by year end”, he noted.
According to him, supply is expected to start by mid-2019.
Notably, in November 2016 SOCAR acquired 26% shares of the consortium established by French oil and gas company Total and Côte d'Ivoire State Oil Company for construction of LNG import terminal. Total holds 34%, SOCAR 26%, Côte d'Ivoire State Oil Company (Petroci) 16% at the newly established company Coted'Ivoire-GNL. Royal Dutch Shell had bought small part of shares.
https://report.az/en/energy/socar-t...truction-in-c-te-d-ivoire-starts-by-year-end/
Azeri440
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Azerbaijan, China ink MoU on SOCAR GPC project
Azerbaijan and China have signed a memorandum of understanding (MoU) on the oil and gas processing and petrochemical complex (GPC) project of SOCAR.
SOCAR GPC Company reported that the document was signed during the high-level international forum held as part of the ‘One Belt – One Road’ strategy in Beijing.
The MoU was signed by President of Azerbaijan’s state oil company SOCAR Rovnag Abdullayev, Chairman of China National Petroleum Corporation (CNPC) Wang Yilin and head of the China Development Bank Hu Huaibang.
This agreement will regulate the services to be rendered by China Huanqiu Contracting and Engineering Corporation (HQC), subsidiary of CNPC and Technip Italy for the preliminary detailed design work as part of the SOCAR GPC project.
HQC and Technip Italy companies will start rendering services in accordance with this agreement from May 15, 2017.
The engineering and civil engineering work is provided by HQC, which has extensive experience in the field of design, procurement and construction of projects, with the support of Azerbaijani companies on the basis of projects prepared by the world's leading licensors.
The GPC project envisages construction of gas processing and petrochemical complex 15 km away from Baku by the Azerbaijani state oil company SOCAR. The capacity of the complex will be around 10 billion cubic meters of gas per year.
The complex will include a gasoline-powered ethylene pyrolysis plant with a capacity of 610,000 tons, a propylene plant with a capacity of 130,000 tons and a polyethylene plant with a capacity of 600,000 tons, Buten-1 and Hexen-1 facilities, a general plant and a heat energy center.
The cost of the project is around $4 billion.
SOCAR GPC Project is the beginning of a new era in development of Azerbaijan’s petrochemical industry. With implementation of this project Azerbaijan will become a global player in the petrochemical industry.
https://www.azernews.az/oil_and_gas/113078.html
Azerbaijan and China have signed a memorandum of understanding (MoU) on the oil and gas processing and petrochemical complex (GPC) project of SOCAR.
SOCAR GPC Company reported that the document was signed during the high-level international forum held as part of the ‘One Belt – One Road’ strategy in Beijing.
The MoU was signed by President of Azerbaijan’s state oil company SOCAR Rovnag Abdullayev, Chairman of China National Petroleum Corporation (CNPC) Wang Yilin and head of the China Development Bank Hu Huaibang.
This agreement will regulate the services to be rendered by China Huanqiu Contracting and Engineering Corporation (HQC), subsidiary of CNPC and Technip Italy for the preliminary detailed design work as part of the SOCAR GPC project.
HQC and Technip Italy companies will start rendering services in accordance with this agreement from May 15, 2017.
The engineering and civil engineering work is provided by HQC, which has extensive experience in the field of design, procurement and construction of projects, with the support of Azerbaijani companies on the basis of projects prepared by the world's leading licensors.
The GPC project envisages construction of gas processing and petrochemical complex 15 km away from Baku by the Azerbaijani state oil company SOCAR. The capacity of the complex will be around 10 billion cubic meters of gas per year.
The complex will include a gasoline-powered ethylene pyrolysis plant with a capacity of 610,000 tons, a propylene plant with a capacity of 130,000 tons and a polyethylene plant with a capacity of 600,000 tons, Buten-1 and Hexen-1 facilities, a general plant and a heat energy center.
The cost of the project is around $4 billion.
SOCAR GPC Project is the beginning of a new era in development of Azerbaijan’s petrochemical industry. With implementation of this project Azerbaijan will become a global player in the petrochemical industry.
https://www.azernews.az/oil_and_gas/113078.html
Azeri440
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Chinese YTO tractors to be assembled in Azerbaijan
Chinese YTO tractors will be assembled in Azerbaijan`s Gusar region as local company Stocking and Supply of Food Products signed a MoU with YTO Group Corporation on May 16.
Under the memorandum, 800 mid-size (18-40 horsepower) YTO tractors will be assembled in Azerbaijan per year.
The tractors will be leased out to local farmers with a low interest rate through Agroleasing OJSC.
https://www.azernews.az/business/113277.html
Chinese YTO tractors will be assembled in Azerbaijan`s Gusar region as local company Stocking and Supply of Food Products signed a MoU with YTO Group Corporation on May 16.
Under the memorandum, 800 mid-size (18-40 horsepower) YTO tractors will be assembled in Azerbaijan per year.
The tractors will be leased out to local farmers with a low interest rate through Agroleasing OJSC.
https://www.azernews.az/business/113277.html
Azeri440
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SOCAR, Uzbekneftegaz to jointly develop oil & gas fields
The state energy companies of Azerbaijan and Uzbekistan have agreed to jointly develop oil and gas fields.
SOCAR President Rovnag Abdullayev and Chairman of the Board of Directors of Uzbekneftegaz Alisher Sultanov signed a memorandum of understanding on the sidelines of the 21st Uzbekistan International Oil & Gas (OGU) Exhibition and Conference in Tashkent.
Azerbaijan’s state oil company SOCAR and Uzbekistan’s Uzbekneftegaz National Holding Company are linked by the relations of lasting partnership, Abdullayev said at the “Key Development Prospects for Future Growth of Oil and Gas Industry in Uzbekistan” conference held within the framework of the OGU Exhibition and Conference.
Abdullayev reminded that SOCAR and Uzbekneftegaz cooperate within the framework of a joint venture created on an equal footing for processing of oil sludge and clean-up of oil contaminated soil.
SOCAR also provides assistance to the Uzbek partners in the introduction of the latest developments and technologies in the field of energy saving and alternative energy sources, he added.
In May 2016, SOCAR and Uzbekneftegaz signed a memorandum providing for cooperation in the exploration and development of oil and gas fields and other potential areas for the development of the energy sector.
The 21st International Oil & Gas (OGU) Exhibition and Conference 2017 international exhibition and conference will end on May 19. The event is timed to the 25th anniversary of the Uzbekneftegaz National Holding Company in 2017. About 200 companies from 30 countries take part in the exhibition.
https://www.azernews.az/oil_and_gas/113343.html
The state energy companies of Azerbaijan and Uzbekistan have agreed to jointly develop oil and gas fields.
SOCAR President Rovnag Abdullayev and Chairman of the Board of Directors of Uzbekneftegaz Alisher Sultanov signed a memorandum of understanding on the sidelines of the 21st Uzbekistan International Oil & Gas (OGU) Exhibition and Conference in Tashkent.
Azerbaijan’s state oil company SOCAR and Uzbekistan’s Uzbekneftegaz National Holding Company are linked by the relations of lasting partnership, Abdullayev said at the “Key Development Prospects for Future Growth of Oil and Gas Industry in Uzbekistan” conference held within the framework of the OGU Exhibition and Conference.
Abdullayev reminded that SOCAR and Uzbekneftegaz cooperate within the framework of a joint venture created on an equal footing for processing of oil sludge and clean-up of oil contaminated soil.
SOCAR also provides assistance to the Uzbek partners in the introduction of the latest developments and technologies in the field of energy saving and alternative energy sources, he added.
In May 2016, SOCAR and Uzbekneftegaz signed a memorandum providing for cooperation in the exploration and development of oil and gas fields and other potential areas for the development of the energy sector.
The 21st International Oil & Gas (OGU) Exhibition and Conference 2017 international exhibition and conference will end on May 19. The event is timed to the 25th anniversary of the Uzbekneftegaz National Holding Company in 2017. About 200 companies from 30 countries take part in the exhibition.
https://www.azernews.az/oil_and_gas/113343.html
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