A new methanol plant constructed on the outskirts of Baku was made possible by a $30 million finance agreement between Russia’s VTB bank and AzMeCo, or the Azerbaijan Methanol Company. In earlier posts we looked at how the plant was financed, with Nasib Piriyev’s ACG consulting on the deal. We also saw what the product capacity for the plant was and other facts and figures.
In the attachment you can see that methanol can help reduce global carbon emissions to the point where AzMeCo is able to receive carbon credits. The factory setting of the AzMeCo plant allows it to capture around quarter of a million tons of CO2 gases each year as they are released into the atmosphere. The idea of capturing harmful carbon emissions and recycling them is a relatively new one but experimental plants in Iceland have already proved that it can be done. The technologies for this are now becoming more widespread as more countries seek to reduce their carbon emissions in innovative ways. The vision of AzMeCo revolves around monetising natural gas into methanol derivatives by caring for and helping to protect the environment and contribute to long-lasting, sustainable development for the Azerbaijani economy. The methanol plant fulfils this vision, with AzMeCo now planning to invest a further $1.1 billion in six more methanol plants across the country.
No comments:
Post a Comment