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Petkim, BP Gas agrees on sale of filling and the storage facilities

20 August 2009 11:34 (UTC +04:00)

Baku. Elmin Ibrahimov-APA-Economics. Petrochemicals firm Petkim announced that it signed an agreement to purchase LPG (liquefied petroleum gas) storage and filling facilities along with a land plot, located in the town of Aliaga, from BP Gaz for a consideration of TRY 5mn (EUR 2.4mn).

As BNE Portal (www.businessneweurope.eu) reports, the facilities consist of LPG tanks (total capacity of 4800 m3), LPG loading platform, tube filling ramp, water tank and an office building on a 25,677 sqm land. Petkim will pay TL 5 mn to BP gas.

The Company plans to increase the usage of LPG in production process. Using both production methods (Naphtha and LPG) will give company more feedstock flexibility. Especially at the time of high oil and naphtha prices, the company may opt to use LPG as a cheaper feedstock.