admin May 21, 2016

The State Oil Company of Azerbaijan (SOCAR) will expand the capacity of the Kulevi Black Sea oil terminal in Georgia from the current 320,000 cubic meters to 380,000 cubic meters, a source in SOCAR told Trend.

The terminal in Georgia’s Kulevi was commissioned in May 2008 and the oil transshipment started in June of the same year. The total capacity of the terminal is 10 million tons of bulk-oil cargo per year, three million tons of oil, three million tons of diesel fuel and four million tons of fuel oil.

The source linked the expansion of the Kulevi terminal with the modernization of the Baku Oil Refinery named after Heydar Aliyev, following which its production capacity will grow from 6 million tons to 7.5 million tons per year.

“The increase in oil products will naturally lead to building up export,” said the source. “Most part of oil products is transshipped through Kulevi terminal, so its expansion is a natural requirement. Now the capacity of the terminal’s storage tank amounts to 320,000 cubic meters.”

“SOCAR plans to increase it up to 380,000 cubic meters,” said the source. “The expansion project has already started and is likely to be completed next year.”

The source added that there is demand for these capacities and it will be ensured at the expense of both Azerbaijani and transit volumes of oil products.

“SOCAR will try to involve third parties, customers, so that they use the Kulevi terminal for transshipment,” the source said. “The company is interested in this.”

Source: Trend