bp interested in privatization of Azerbaijani gas plant

The investment competition was announced on 20 June 2005, where 87.14% of stock was put for sale, while the rest 12.86% was distributed among the workers of the plant. (Trend)

The State Property Management and Privatization Department under the Ministry of Economic Development said that BP had not submitted application to participate at the investment competition.

“No proposal has entered so far, but both local and international companies are interested in the privatization of the enterprise,” the Department underlined.

There are problems in the privatization of the plant. The enterprise receives natural gas from the SOCAR and after refinery delivers it to Azerigas JSC. “The investor is due to sign an agreement with the SOCAR on purchase of natural gas and determine the tariffs on gas cleaning and sale after refinery,” the Ministry said.

The deadline for tender bids is 21 July 2005. The bids will be unsealed on July 25. The 2nd tender will be announced unless necessary bids are submitted. The enterprise is planned to be privatized by late 2005.