BAKU, Azerbaijan, October 16. SOCAR Methanol LLC of the State Oil Company of Azerbaijan (SOCAR) produced 387,700 tons of methanol (methyl alcohol) from January through September 2024, which is 10.7 percent more than the indicator of the same period of 2023.
The data obtained by Trend from the country's State Statistics Committee shows that 12,500 tons of methanol were stored in SOCAR Methanol warehouses on October 1.
Meanwhile, this enterprise has been on the balance sheet of SOCAR since 2014 and is the only producer of methanol in the South Caucasus.
Its production capacity is (at peak) about 720,000 tons per year.
The plant produced 494,600 tons of methanol in 2023.