Azerbaijan, Baku, 16 May / Trend / The official opening ceremony of oil terminal owned by the State Oil Company of Azerbaijan (SOCAR) took place in Kulevi, Azerbaijani Transport Ministry reported on 16 May.
Kulevi terminal will be able to accept up to 168 cisterns simultaneously. The tank battery's volume totals 380,000 cu m. The port can accept tankers with the deadweight up to 100,000 tons. Its capacity is expected to be increased to 15-20mln tons within 2 years.
SOCAR received a large syndicated credit ($305mln) for construction. The credit was established by a consortium of 15 foreign banks headed by ABN Amro, Societe Generale and BNP Paribas. The loan is expected to be paid back by 2009.
Transhipment capacity of the terminal will total 10mln fluid cargo per year, including 2mln tons of oil, 3mln tons of diesel fuel, 4mln tons of fuel oil.
Four railway routes are able to deliver 168 cisterns to the terminal with the construction of an access duct and 3 piers. There is also a laboratory in Kulevi for testing the oil and oil products in accordance with the international standards, and a mobile of tanker park comprising of 9 subsidiary vessels, as well as a new railway line Kolkheti-Kulevi- 13.8km in length. The new terminal can receive tankers with a capacity of about 100,000 to 150,000 tons.