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En Az Ru
News
22/05
AZMECO AND SBERBANK SIGN MEMORANDUM OF COOPERATION

AZMECO’S EXPANSION PLANS SECURED WITH ADDITIONAL $1.5BN FACILITY.


AzMeCo and Sberbank have signed a Memorandum of Cooperation at the XVIII St. Petersburg International Economic Forum, which sets out the priorities and cooperation framework between the two companies.

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Oil & Gas Division

PNN Group’s petrochemical division owns, develops and operates refineries in the CIS region. Azerbaijan Methanol Company (AzMeCo), the flagship of the Group’s petrochemical division, heads construction and development of oil terminals in Georgia and Ukraine. And its trading companies operate in Russia, Belarus, Ukraine, Kazakhstan and Azerbaijan. AzMeCo’s most ambitious project is the methanol production plant in Azerbaijan.

 

PNN Group arranges oil supplies to its subsidiary in Afghanistan, as well as oil supplies from Turkmenistan to Ukraine and Black Sea region. The Group operates refineries
in Afghanistan, Uzbekistan and Kyrgyzstan, which were previously built using PNN Group’s engineering branches – Caspian Engineering Company and Saf Torpaq.






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