25 Oct 2023 15:04

Azerbaijan's SOCAR Trading planning gas-to-power projects in Asia and Africa with purchased LNG

ASHGABAT. Oct 25 (Interfax) - Azerbaijan's Geneva-based SOCAR Trading has implemented a project to supply liquefied natural gas (LNG) purchased on the global market to a power plant in Malta, and the company is planning similar projects in Asia and Africa, Elshad Nassirov, Vice President of the State Oil Company of the Azerbaijan Republic (SOCAR), told reporters at an international oil and gas conference.

Nassirov said that the first such gas-to-power pilot project in Malta was very successful, with gas replacing coal and resulting in cleaner air on the island and a 25% reduction in electricity bills.

"We currently have several promising projects for supplying liquefied gas with subsequent processing into electricity; and there are even several projects in Asia and several projects in Africa," Nassirov said.

Nassirov did not specify the volume of LNG that SOCAR Trading is currently trading, noting, "The figure fluctuates depending on supply, where we can buy gas; and on demand, where we can deliver gas depending on its origin and geography."