Azerbaijan, Baku, November 5 / Trend, E. Ismailov /
Oil terminal in the port of Fujeira (United Arab Emirates, UAE), which is being built by SOCAR Trading, a trading division of the State Oil Company of Azerbaijan (SOCAR), will be put into operation before the end of the year, a high-ranking representative of the SOCAR told reporters on Saturday.
He said construction of the terminal nears completion and that the terminal will be put into operation before the end of this year.
SOCAR and Switzerland-based trading house Aurora Progress last May agreed to cooperate to develop oil storages, including terminals for storage of petroleum products.
SOCAR Trading invested in construction of a terminal with the capacity of 645,000 cubic meters through SOCAR Aurora, a venture established jointly with Aurora Progress and the government of Fujeira.
The Fujeira terminal will consist of 20 storages and have the opportunity of transshipping gasoline, naphtha, mean distillates and other petroleum products.
SOCAR Aurora will act as an independent operator of the terminal offering infrastructure capacities to third sides.