Georgia Decides to Sell Oil Terminal to SOCAR to Restore Balance in Region

Oil&Gas Materials 12 February 2007 16:23 (UTC +04:00)

A decision on sale of an oil terminal Kulevi in Black Sea cost of Georgia was linked with a will to restore a balance in the region, Trend Correspondent in Georgia reports.

In his televised interview for Teleimedi a former owner of the terminal, a famous business, Badri Patarkatzvili, said that Georgia saw a flow of Kazakh capital and after the proposal by Azerbaijan on purchase of the terminal it was decided to sell a half-built facility in Kulevi and restore the balance in capital entering Georgia. Georgia preferred Azerbaijan because of latter being its closest neighbor and partner, and also the need for an oil terminal in the transportation of its energy resources, particularly, kerosene and gas, Mr. Patarkatzvili said.

The terminal can be commissioned in a few days or weeks. The kerosene terminal is ready and the gas terminal will be commissioned soon. At the same time it is necessary to carry out work to deepen the sea depth, the businessman said. The construction design of the terminal has been given to Azerbaijan.

I was very glad when I knew that Azerbaijani company is ready to do in Kulevi the work that I planned and I hope that port in Kulevi will be the best coast, Mr. Patarkatzishvili said.

The capacity of the terminal is 10mln tons. Total capacity of reservoirs at the terminal is 320,000 cu m. It is planned to increase the discharge capacity of the terminal to 15-20mln tons and increase of the reservoirs to 380,000 cu m.