December 20, 2010 [Reuters] - Azersun Holding has completed construction works within the first phase of construction of an oil terminal (Sangachal-Garadagh) in the Garadagh district of Azerbaijan, Azersun Holding head Abdolbari Gozel told Trend.
“The works have been already completed and all is ready for the opening ceremony,” Gozel said.
According to him, the total capacity of the first phase of the terminal is four million tons of oil a year, but within the first phase the amount of cargo transshipment is expected to reach 400,000 -500,000 tons.
According to Gozel, processing of the Kazakh oil, in particular from the Kashagan Field, is expected at the terminal in the future.
Also, he said, preparatory works for the construction of the second phase of the terminal are already underway.
“The second phase can be put into operation in 2014-2015,” Gozel said.
In total, $135 million is expected to spend for the project of construction of the terminal.
The main operator of the project is the “Kavkaztransservis” company (included in Azersun Holding). The Garadagh terminal will be designed to receive the limited types of products (condensate and oil), but in large volumes.
Through this terminal it is expected to receive crude oil from the Kashagan field, which will be transported to the terminals on the Black Sea coast and the Ceyhan port via the Baku-Tbilisi-Ceyhan oil pipeline.
Ltd. “Azersun Holding” was established in 1992. Spheres of activity of the holding are processing and packing of tea, vegetable oil, trade and distribution, construction, banking, insurance, manufacturing cardboard and paper products, meat and canned vegetables, transportation and storage of goods, etc.
