Azerbaijan Petrochemicals Report Q3 2016

Date: June 15, 2016
Pages: 63
US$ 1,295.00
Report type: Strategic Report
Delivery: E-mail Delivery (PDF)
ID: A41FC13108DEN

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Includes 3 FREE quarterly updates

BMI View: Azerbaijan's hopes of establishing a world-class petrochemicals facility by 2020 have been dealt a major blow as the country's economic woes have prompted a freeze on the plans for a new integrated complex, the Oil and Gas Processing and Petrochemical Complex, which was intended to rival major Middle Eastern producers.

Azerbaijan's aim of becoming a significant petrochemicals exporter is unlikely to be realised in the foreseeable future. SOCAR is focusing on petrochemicals investment in Turkey, which remains a major export destination for the country's oil and is a large industrial economy with access to the EU market. Azerbaijan imports 60,000tpa of finished chemicals products that could be substituted with Azerbaijanimade products. In order to meet this target and become a net exporter, it is our view that additional ethylene and propylene plants will need to be constructed.

Azerbaijan will need to address major infrastructural constraints if it is to become a significant petrochemicals producer. Capacity utilisation of existing plants is restricted by lack of investment and maintenance, as well as the predominance of old and environmentally damaging technology. Projects outlined by the economy ministry are formulated based on prospective export markets. However, the industry is highly underdeveloped and there is a gap between petrochemicals ambitions and available feedstock. In the past, output has been undermined by the rising cost of electricity, which state-run chemicals company Azerkimya has been unable to afford, leaving it in need of a government-backed financial lifeline. This demonstrates the lack of efficiency in the petrochemicals industry in Azerbaijan and its dependence on state subsidies.
BMI Industry View
Industry Forecast
  Table: Azerbaijan Petrochemical Sector - Historical Data & Forecasts, 2012-2020
Macroeconomic Forecasts
Economic Analysis
GDP By Expenditure Outlook
  Table: GDP Growth Forecasts (Azerbaijan 2014-2025)
  Table: Private Consumption Forecasts (Azerbaijan 2014-2025)
  Table: Government Consumption Forecasts (Azerbaijan 2014-2025)
  Table: Fixed Investment Forecasts (Azerbaijan 2014-2025)
  Table: Net Exports Forecasts (Azerbaijan 2014-2025)
Industry Risk/Reward Index
Europe Petrochemicals Risk/Reward Index
  Table: European Petrochemicals Risk/Reward Index (scores out of 100)
Azerbaijan Petrochemicals Risk/Reward Index
Market Overview
Industry Trends And Developments
Company Profile
State Oil Company Of Azerbaijan (SOCAR)
Regional Overview
  Table: Northwest European Cracker Outages
  Table: Europe Polymer Plant Turnarounds
Global Industry Overview
Demographic Forecast
  Table: Population Headline Indicators (Azerbaijan 1990-2025)
  Table: Key Population Ratios (Azerbaijan 1990-2025)
  Table: Urban/Rural Population & Life Expectancy (Azerbaijan 1990-2025)
  Table: Population By Age Group (Azerbaijan 1990-2025)
  Table: Population By Age Group % (Azerbaijan 1990-2025)
  Table: Glossary Of Petrochemicals Terms
Industry Forecast Methodology
Risk/Reward Index Methodology
  Table: Petrochemicals Risk/Reward Index Indicators
  Table: Weighting Of Indicators
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