Azerbaijan to borrow $10 billion to build crude, natural gas refinery

09/25/2011 | Bloomberg

Azerbaijan is planning to borrow more than $10 billion to build a natural gas and crude oil refinery, according to the state energy company. Azerbaijan was the third-largest oil producer in the now-defunct Soviet Union. The project will transform up to 530 billion cubic feet per year of natural gas into propane, butane and other products, said State Oil Vice President for Strategic Projects Tofig Gahramanov.

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