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Azerbaijan to export 90% of petrochemical products to be produced at new oil-gas and petrochemical complex

11 April 2012 07:55 (UTC +04:00)

Baku. Nijat Mustafayev â€“ APA-Economics. 90% of petrochemical products to be produced at new oil-gas and petrochemical complex will be exported. Deputy department chief of the complex Fuad Ahmadov says 1.7 mln tons of product or 50% of the produced products will be exported to Turkey. Note that, the complex will produce mainly petrol, black oil fuel and diesel.

Ahmadov said that the construction of oil refining plant demands $6.2 bln, gas refining plant - $2.4 bln, petrochemical plant - $3.8 bln. In general, the total amount of funds to be spent to implementation of the project will make $15 bln, of these $10 bln will be attracted from abroad. The most expenses within the project will be recorded during 2016-2017, which will make nearly $3.2-3.3 bln.

SOCAR official noted that in 2020, domestic demand in Azerbaijan for petrol will be 1.4 mln tons, for diesel â€“ 1.2 mln tons, jet fuel â€“ 0.6 mln tons. These figures in 2040 will be equal to 2.8 mln tons, 1.9 mln tons, 0.9 mln tons, respectively.

Note that, currently, technological optimization process is underway on the project.