AzMeCo
From Wikipedia, the free encyclopedia
| Company type | Manufacturing |
|---|---|
| Industry | Energy |
| Headquarters | Azerbaijan |
Key people | Chairman: Nizami Piriyev.[1][2] Hidayat Sultanov, Director General[2] |
| Website | www |
AzMeCo (formally known as the Azerbaijan Methanol Company[3]) is a methanol production company located in Azerbaijan.[4] The company is primarily focused on petrochemical projects,[5] specifically the construction and operation of gas and methanol factories.[3] AzMeCo also works on hydrocarbon projects in the Caspian Sea.[1][6]
2007
AzMeCo company was founded in 2007.[1]
2012
In November 2012, the International Bank of Azerbaijan, Asia House, and TheCityUK organized a conference known as the Caspian Corridor Conference. The IBA, Asia House, and TheCityUK created a business framework at the conference upon which the future sale and marketing of AzMeCo's methanol was based.[7]
Additionally, in 2012 BP agreed to buy methanol from AzMeCo.[4] According to petrochemical industry research service Petrochemicals ResearchViews and Azerbaijani newspaper Today.Az, AzMeCo agreed to sell its entire methanol production exclusively to BP.[7][8]
2013
AzMeCo built the first methanol plant in the South Caucasus region and Central Asia, according to Azer News.[6] AzMeCo estimates that the plant will produce 560,000 tonnes of methanol per year.[9] The International Bank of Azerbaijan and European Bank for Reconstruction and Development (EBRD) financed the construction of the plant.[10]
2015
AzMeCo declared it would align with Sovereign Wealth Fund conglomerates to invest with low risk in productive overseas projects.