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First stage of establishing new oil terminal in Azerbaijan to be finished by mid year

Oil&Gas Materials 12 February 2010 10:08 (UTC +04:00)

Azerbaijan, Baku, Feb 11 / Trend M. Aliyev/

Construction work within the first stage of establishing new oil terminal Garadagh-Sangachal will be finished by mid this year, head of the "Azersun Holding" Abdolbari Gezel said.

It's planned to spend $40 million on realization of the first stage of the project. In total it's supposed to spend $135 million on realization of the project.

The main operator of the project is "CaucasusTransService" company (part of "Azersun Holding" group). Garadagh terminal is envisaged to receive limited sort of products (condensate and oil), but in large volumes.

The terminal is envisaged to receive crude oil from Kashagan field, which will be transported to the terminals on the Black Sea coast and to Ceyhan port via Baku-Tbilisi-Ceyhan pipeline.

Completing the second stage depends on the volume of transportations. At the first stage the transshipment capacity of the terminal is planned to be 12 million tons of oil per year, at the second stage - 20 million tons per year.

The storage capacity of the terminal is 200,000 cubic meters, to be further increased up to 600,000 cubic meters. The transshipment capacity of Garadagh-Sangachal during the realization of the second and the third phases of the project will reach 45 million tons per year after 2011.

Azersun Holding LLC was created in 1992. Spheres of activity of the holding are handling and prepacking of tea, vegetable oil, trade and distribution, construction, banking, insurance, production of cardboard and paper wares, canned meat and vegetables, transporting and storage of goods and others.

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