Petrochemicals and Downstream Industries Boom in Azerbaijan
All sunshine and sparkles? Not really: The 10th BMI proprietary Central and Eastern Europe Petrochemicals Risk/Reward Ratings put Azerbaijan at the bottom with a score of 32.7, 6.6 points, even behind Bulgaria.
This score could rise if plans for a new integrated petrochemicals complex come to fruition, but this is unlikely to come onstream before 2018 at the earliest.
The 'Dutch Disease': Why Azerbaijan's Oil Industry Might Hold Back the Development.
Apart from that, the country suffers from what economy analysts call the "Dutch Disease": Azerbaijan’s considerable energy reserves and rising gas output have meant petrochemicals capacity has been overlooked, largely owing to a poor business environment, which has deterred investors. However, there are signs that things are changing for the better, as the government is making a concerted effort at restructuring the sector.
More from Azerbaijan? Currently, Foster Wheeler Cooperates With Azerbaijan National Oil Company Socar on Oil and Gas Processing Project.