Azerbaijan Petrochemicals Report Q3 2015 - New Study Released

The Azerbaijani petrochemicals market will be undermined by slow growth caused by the impact of lower oil prices and the depreciation of the manat on consumer demand. As a result, BMI's latest Azerbaijan Petrochemicals Report expects lower operating rates in the country's small and ageing petrochemicals facilities in 2015.

Azerbaijan's petrochemicals industry has been a victim of its narrow focus on hydrocarbons. While oil was highly priced, there was less incentive to capitalise on oil and gas resources or deal with endemic infrastructural problems. We note that the petrochemicals sector will contribute significantly to the development of the non-oil economy, providing the basis of growth in downstream manufacturing as well as exports. It will also be able to move the country towards self-sufficiency in some segments, particularly polyethylene (PE) and methanol. This should even out the impact of volatile oil output growth in the wider economy.

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We further highlight that if Azerbaijan is to become a significant petrochemicals producer, the country needs to invest heavily in infrastructure. Electricity supply problems have undermined production in the past and raised costs. The lack of investment and maintenance of existing plants as well as outdated technology substantially also limits capacity utilisation.

Key Developments and Forecasts

* The planned SOCAR Polimer polypropylene (PP) plant, with a 200,000 tonnes per annum (tpa) capacity, at the Sumgayit Chemical Technology Park in Azerbaijan is scheduled to start production in H216. A 100,000tpa PE plant is also likely to come on stream at the same time.
* A fertiliser project is planned in Karadagh with capacities of 255,000tpa ammonia and 500,000tpa urea. SOCAR is also planning two fertiliser plants, each with a capacity of 700,000tpa of urea, one in Azerbaijan and one in Georgia. Construction is due for completion by end-2016. The objective is for Azerbaijan to raise its fertiliser exports to...

The Azerbaijan Petrochemicals Report has been researched at source, and features BMI Research's market assessment and independent forecasts for key petrochemicals sub-sectors. The report also analyses the impact of regulatory changes, recent developments and the background macroeconomic outlook and features competitive landscapes comparing companies by products and services, sales, market share, investments, projects, partners and expansion strategies.

BMI's Azerbaijan Petrochemicals Report provides industry professionals and strategists, sector analysts, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the Azerbaijani petrochemicals industry.

Key Benefits

* Benchmark BMI's independent petrochemicals industry forecasts to test other views - a key input for successful budgetary and planning in the Azerbaijani petrochemicals market.

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