Azerbaijan-owned oil terminal opens in Georgia

The opening ceremony was attended by Georgian President Mikhail Saakashvili and Prime minister of Azerbaijan Artur Rasizade.

The Kulev terminal is capable of receiving 160 carriage cisterns simultaneously. Initially, the terminal will receive up to 10,000,000 tons of oil per year.

It is planned to raise the capacity and volume of the reservoir park up to 15,000,000-20,000,000 tons and 380,000 cubic meters in the coming two years.

It should be noted that the construction of the Kulev terminal started in 2000 with participation of the Georgian railway administration and Austrian Agromar Oil. Yet the construction was stopped in 2002 due to the lack of funds.

An international consortium, which included a number of Georgian and foreign businessmen along with initiators of the terminal construction, was created for continuation of the project in September of 2004.

Azerbaijan bought the terminal from the consortium in early 2007.

/EnergyLand/