SOCAR POLYMER

SOCAR Polymer at the 4th International Caspian Energy Forum

On 12 April 2017, the 4th International Caspian Energy Forum-2017 organized by the Caspian European Club (CEC) and Caspian Energy International Media Group (CEIMG) assembled in Baku 500 delegates from 20 world countries. Speaking about the objectives of the forum, the First Deputy Chairman and CEO of the Caspian European Club and Caspian American Club Telman Aliyev underlined that the main goal is to support strengthening of ties between businesses and the public sector, as the event was attended by heads of government institutions, ministries, committees and agencies of Azerbaijan and other countries across the Caspian-Black Sea and Baltic regions, as well as by the executives of large international companies, and representatives of diplomatic missions and delegations of international organizations accredited in the Azerbaijan Republic. 

The SOCAR Polymer company was represented by the Senior Financial Analysts of the company – Babek Beydullayev and Elchin Mammadov, and the Junior Financial Analysts - Nigar Jabrayilova, Aghil Rahimov and Natig Karimov. The Forum was held in sessions. The first, chaired by the Deputy Chairman of Milli Majlis and Head of the Committee for Natural Resources, Energy and Environment – Valeh Alasgarov, was focused on the outcomes of economic reforms implemented in Azerbaijan and all aspects of integration into world energy markets across the Caspian-Black Sea and Baltic sea regions. Among the speakers of the first session were the Assistant to the President of AR on Economic Reforms – Natig Amirov, the Chairman of the State Customs Committee of AR – Aydin Aliyev, the Chairman of the State Committee of Standardization, Metrology and Patent – Ramiz Hasanov, and the Supervisory Board Chairman of Azersun Holding – Abdolbari Goozal. At this session, the speaker for the SOCAR Polymer company, Babek Beydullayev presented an overview of petrochemical projects in Azerbaijan, including the SOCAR Polymer, SOCAR GPC projects and modernization of the Heydar Aliyev Baku Oil Refinery and Azerikimya. Telling the success story of SOCAR Polymer, which had for the first time in Azerbaijan established a Project finance template, Mr. Beydullayev emphasized absence of debt repayment or completion guaranties from SOCAR or the Azerbaijan government, and covered other details of the project. Elaborating on the SOCAR GPC project, our speaker touched upon different potential financing structures, such as the Sovereign Guarantee, Build-Operate-Transfer and Corporate Loan options; accentuated the advantages and disadvantages of Project Finance compared to traditional Corporate Finance; and pointed out the benefits of Lump Sum Turn Key (LSTK) Contracts. 

The second session of the forum was dedicated to the development of the non-oil sector, businesses and dialogue with the government, with discussions around the deployment of innovations in the financial, banking, insurance, leasing, telecommunications, tourism, machine engineering, construction and other sectors of the non-oil industry.

The next International Caspian Energy Forum will be held in Prague in December 2017 to bring together leading companies of the Caspian-Black Sea region and European countries. Also, in autumn of 2017 the first ever International Caspian American Forum will be organized in Baku to lay the foundation for a dialogue between the Americas and the companies operating in the markets of the Caspian-Black Sea region.