Azerbaijan Methanol Company to Buy Gas from Gazprom

Gazprom Export, a fully owned subsidiary of Gazprom Group, has signed an agreement to supply up to 2 billion cubic meters per year of natural gas to Azerbaijan Methanol Company (AzMeCo), the Russian firm said Friday.

The agreement was signed in Baku in the presence of Alexander Medvedev, Deputy Chairman of Gazprom’s Management Committee, and Elshad Nassirov, Vice-president for investments and marketing of The State Oil Company of the Azerbaijan Republic (SOCAR), Elena Burmistrova, Director General of Gazprom Export LLC, and Nizami Piriev, Chairman of the Board of Directors of Azerbaijan Methanol Company (AzMeCo).

Gazprom Group’s gas supply will secure 100 percent loading of the Karadagh methanol plant’s capacity.

AzMeCo was founded in 2007 to invest in petrochemical projects as an owner and operator.