Azerbaijan, Baku, 25 April / Trend corr A. Badalova/ "The construction of various premises in the new oil terminal Garadag-Sangachal in Azerbaijan will be completed in 2009," Dmitriy Solovyev, acting Director General of Cross Caspian Oil and Gas Logistics, said in the second oil and gas trade and transport conference in Baku on 24 April.
Cross Caspian is a joint venture with the State Oil Company of Azerbaijan (SOCAR). The company coordinates and provides services on the transportation of hydrocarbons via the Caspian Sea to the Black Sea.
Solovyev said that construction of the terminal has commenced, the deal with financial institutions is being finalised. The storage capacity of the terminal will comprise 200,000 cu m in the first stage but will later be trebled. 45 mln mt per annum of capacity is to be achieved via impllementation of the second and third phases respectively that will be completed later than 2011. Phase first is to be comissioned in 2010.
According to Solovyev, transportation of oil via Azerbaijani-Georgian railway line comprised 9mln tons in 2007 and is expected to make up 12mln tons in 2008, 16mln tons in 2009 and 19mln in 2010.
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