SOCAR is Ready to Launch Its Own Terminal in Georgia

Oil&Gas Materials 21 April 2008 15:48 (UTC +04:00)

Azerbaijan, Baku, 21 April / corr. Trend S. Aliyev/ The State Oil Company of Azerbaijan (SOCAR) is completely ready to launch its own oil terminal in Kulevi in the Black Sea shore in Georgia, Mahir Mammadov, the head of SOCAR Energy Georgia said on 21 April.

All technical and documentation problems concerning launching of the terminal have been addressed, he said. SOCAR will fix the launching date of the terminal.

SOCAR was granted a big syndicated credit worth $301mln to construct this terminal. The syndicated credit from 15 foreign banks was led by Societe Generale. The loan is expected to be repaid by 2009.

The capacity of the terminal makes up 9mln tons (2mln tons raw oil, 3mln tons of diesel oil and 4mln tons of black oil). The storage plant of the terminal is 320,000 cu. m. The capacity is expected to be increased up to 20mln tons and to extend storage plant up to 380,000 cu. m.

The construction of a terminal for trans-shipment of dry cargo and liquefied gas (LPG) is expected to be launched in 2008.

The correspondent can be contacted at: [email protected]