Azerbaijan increases revenue from methanol exports by 8%

Azerbaijan exported 240.578 million tons of methanol (methyl alcohol) worth $81.84 million in January-September 2026, representing a 28.6% decrease in volume and an 8% increase in value compared to the same period last year, Report informs referring to the State Customs Committee.

The share of methyl alcohol in Azerbaijan's exports of major non-oil products stands at 2.86%, while the share of methanol (methyl alcohol in primary forms) in total export volume accounts for 0.41%.

Methanol is produced at the Methanol Plant of the State Oil Company of the Republic of Azerbaijan (SOCAR) in the Garadagh district of Baku. Commissioned in 2013, the plant has been operated by SOCAR's subsidiary, SOCAR Metanol LLC, since 2016 and became the company's property in August 2017. The enterprise has a production capacity of 650,000–700,000 tons of methanol per year, utilizing natural gas and desalinated water as raw materials in production.