Azersun Holding prepares launching first phase of new oil terminal in Azerbaijan
Azerbaijan, Baku, July 29 /Trend, E.Ismayilov/
In September-October Azersun Holding intends to put into operation the first phase of the oil terminal in the Garadagh district, the head of Azersun Holding Abdolbari Gozel said on July 29. "The first phase of construction is nearing completion, and after one to two months, the terminal will be put into operation," - said Gozel.
The capacity of the first phase is designed for transshipment of 300,000 tons of condensate. However, according to Gozel, after launching the first phase, at the initial stage the terminal will transship 35,000 tons of condensate per month. In the future, as a result of negotiations with partners, this figure can be increased up to 70-80,000 tons.
Gozel said the implementation of the second phase of construction of the terminal will be possible after attracting Kazakh and Turkmen oil. About $40 million is planned to be spent on on the first phase of the project. In total, $135 million is expected to be spent on the project.
The main operator of the project is the Kavkaztransservis Company (part of Azersun Holding). Garadagh terminal will be designed to accept limited types of products (condensate and oil), but in large volumes.
This terminal is expected to receive crude oil from the Kashagan field, which will be transported to the terminals on the Black Sea and the Port of Ceyhan via Baku-Tbilisi-Ceyhan pipeline.
Azersun Holding LLC was established in 1992. The spheres of the Holding's activities are processing and packing of tea, vegetable oil, trade and distribution, construction, banking, insurance, production of cardboard and paper products, meat and vegetables, transport and storage of goods, etc.