Today, Giorgi Arveladze, Georgia Economy Minister, said at the meeting of the Georgian Government in Tbilisi that the deal around purchase of the Kulevi Oil Terminal at the Georgian Black Sea coast is not related to the Economy Ministry of the Country.
The State Oil Company of Azerbaijan (SOCAR) will buy the oil terminal in Kulevi based at the Georgian Black Sea coast. SOCAR intends to put significant investments into the development of the oil terminal. The issue on construction of a complex on refining oil at the Georgian Black Sea coast, as well as organization of oil products sale to the Black Sea Basin countries has been fully agreed with the Georgian Government. The Georgian Authorities have granted the rights on implementation of corresponding building and assembling works to SOCAR.
Construction work has been launched on the territory of the terminal. The new terminal is expected to receive tankers with the deadweight of over 100.000 tons. It is proposed that at the initial stage of the operation of the terminal, the volumes of oil shipments will reach 10 mln. tons per year. Multiple increases in the oil shipments are expected to be in the future.
That is a private deal with private company, Kulevi-2000, which has the right to conclude deals independently, said Mr. Arveladze.
He said that the State did not have its share in the terminal, and therefore it does not relate to the deal concluded.
According to non-official information, a Georgian businessman, Badri Patarkatsishvili decided to sell out company Kulevi-2000 that belongs to him, since he had faced troubles with the completion of construction works in the oil terminal.