New Azerbaijani Oil Terminal in Georgia to Commissioned on 21 Nov

Oil&Gas Materials 15 November 2007 11:49 (UTC +04:00)
New Azerbaijani Oil Terminal in   Georgia to Commissioned on 21 Nov

Azerbaijan, Baku / corr Trend S.Aliyev / A new terminal in Kulevi, Georgia, belonging to the State Oil Company of Azerbaijan (SOCAR), will be commissioned after 21 November, Mahir Mammadov, the Director General of SOCAR Georgia, said.

"The first batch of oil products will be loaded from the terminal on that day. It will be diesel fuel," Mammadov said. Senior officials from Azerbaijan and Georgia will attend the ceremony.

Furthermore, there are plans to construct a dry cargo terminal and a terminal for pumping liquefied gas in the territory of the terminal.

SOCAR owns the Kulevi terminal, and this year received a large syndicated credit line for its construction. The gross amount of the credit line totalled $301mln. The credit line was established from a consortium of 15 foreign banks headed by Societe Generale. The loan is expected to be paid back by 2009.

At present the capacity of the terminal equals 9mln tons (2mln tons of crude oil, 3mln tons of diesel fuel and 4mln tons of black oil). The capacity of the reserve tank of the terminal is 320,000 cu m. There are plans to increase the capacity of the terminal up to 20mln tons and the reserve capacity up to 380,000 cu m.