TODAY.AZ / Business

Azerbaijan to build oil refinery in Georgia

22 January 2007 [23:46] - TODAY.AZ
State Oil Company of Azerbaijan (SOCAR) intends to construct a new oil refinery near Kulevi Terminal (Georgia).

The SOCAR President Rovnag Abdullayev told the APA that the capacity of the refinery will be 5m to 10m tons of oil annually. Some 300 hectares will be allotted to the construction.

He said that Azerbaijan is supplying 75% of Georgia's oil imports. New refinery in Georgia will reduce transport expenses and cost price of oil products.
The SOCAR purchased Kulevi Terminal in Dec. 2006.

"We are deeply interested in Georgia's market. Kulevi Terminal will open our way to the Black Sea," said Abdullayev.

He added that construction works are being carried out at the terminal now.

"We plan to start operations at the terminal in late first quarter or early second quarter. The annual capacity of 10 million cubic meters in the first phase, and reaching 20 million cubic meters per year later," he underscores.


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