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Korean Daewoo launches preliminary work to build refinery in Georgia

Oil&Gas Materials 27 July 2011 12:56
The Korean company Daewoo Engineering has started the preliminary work over construction of a refinery in Georgia, the Georgian Center of Coordinated International Investments reported.

Georgia, Tbilisi, July 27 /Trend/

The Korean company Daewoo Engineering has started the preliminary work over construction of a refinery in Georgia, the Georgian Center of Coordinated International Investments reported.

After completion of preliminary calculations in September the size and capacity of the plant will be determined. It's planned to build the plant near the Supsa oil terminal.
Building an oil refinery is the Georgian government's priority task. Georgian President Mikheil Saakashvili said earlier oil refinery should reduce Georgia's dependence on slowdown or increase in oil prices on global markets.
Georgian Energy Minister Alexander Khetaguri said construction of a refinery will not only enable to meet Georgia's demand for oil products, but also export them.

He said in the first stage the Georgian side will focus on the export of oil to the Turkish and Ukrainian markets.

Georgia has not yet been conducted oil refinery, but Batumi, Poti, Supsa and Kulevi oil terminals operate on the Black Sea coast on the basis of oil supplies from Azerbaijan, Kazakhstan and Turkmenistan.

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