The State Oil Company of Azerbaijan Republic (SOCAR) is hatching plans for the construction of a methanol plant in Russia, SOCAR Polymer LLC General Manager Farid Jafarov said.
Report informs that he was speaking to journalists on the sidelines of the 9th Azerbaijan-Russia Interregional Forum held in Baku.
"Negotiations are underway with the Russian company on the construction of a methanol plant in Russia. It's about large-scale production. Our company plans to scale up the experience of SOCAR Polymer, " Jafarov said.
He added that the project could become profitable and competitive at the expense of an attractive gas price in Russia: "It is assumed that Russian raw materials will be used in production."