About Civil.ge
Eng | Geo | Rus
Last updated: 14:51 - 29 Mar.'17
RSS
Mobile
Twitter
Facebook
Batumi Oil Terminal to Handle More Kazakh Oil
Civil Georgia, Tbilisi / 22 Sep.'06 / 17:23

Batumi Oil Terminal, which is part of the Greenoak Group, signed a deal with Kazakh state-run KazMunaiGas to set up a joint company to secure the flow of more Kazakh crude oil.

The agreement on the joint company, which is to be called Batumi Terminals, was signed by Jan Bonde Nielsen, chairman of the Batumi Oil Terminal, and Uzakbai Karabalin, the President of KazMunaiGas, on September 22 in Tbilisi.

Jan Bonde Nielsen said that the volume of crude oil and refined products from Kazakhstan, Azerbaijan and Turkmenistan handled by Batumi Oil Terminal has grown by nearly 4 times since 1999, and it “will load a record 12 million tons from Batumi this year.”

But he noted that with the Baku-Tbilisi-Ceyhan oil pipeline in operation, the Batumi Oil Terminal will now handle less crude from Azerbaijan.

“To ensure continued growth it has been our ambition for some time to find a partner strongly backed by resources… The true potential for Batumi lies with Kazakhstan, where oil production will, by 2015, grow to 170 million tons per year,” Jan Bonde Nielsen said.

Uzakbai Karabalin said that the new venture is “very important” for Georgia “as it will secure a stable flow of oil via this transit corridor."

“The Batumi Oil Terminal provides more than 60% of the income for the Georgian Railway… Falling volumes would have catastrophic consequences for both Batumi and the Georgian Railways,” he said.

The KazMunaiGas top executive also said that he has met with Georgian Prime Minister Zurab Nogaideli and informed him about the new venture.

Latest News
29 Mar.'17 14:51
UN Security Council Holds Discussion on Georgia
United Nations Security Council held a closed door discussion on Abkhazia and South Ossetia.
29 Mar.'17 13:08
PM Kvirikashvili Meets EU Leaders in Brussels
Georgian officials traveled to Athens and Brussels to celebrate the launch of the visa-free travel.
28 Mar.'17 20:02
In Athens, PM Kvirikashvili Stresses Georgia’s European Roots
Georgian officials traveled to Athens to mark the launch of the visa waiver to the Schengen Zone.
28 Mar.'17 16:30
EU, Georgian Officials Take to Twitter to Celebrate Georgia’s Visa-Free Travel
Georgian citizens no longer require a visa to travel to the Schengen Zone.
28 Mar.'17 16:14
Visa Waiver Boosts Georgia’s European Ambitions
‘Our ambition is to make Georgia a full member of the European Union,’ Foreign Minister said.
28 Mar.'17 13:41
Government Speaks on Safeguards against Visa-Waiver Abuse
Georgian border guards will start interviewing “in detail” all travelers heading to the Schengen countries.
28 Mar.'17 12:18
Georgia Celebrates Visa Free Travel to EU
Georgian officials travel to Athens, Brussels to mark the launch of the visa-free travel to the Schengen Zone.
27 Mar.'17 15:55
Runoff Parliamentary Vote in Breakaway Abkhazia
Independent candidates win 86 percent of Abkhaz parliamentary seats.
26 Mar.'17 02:59
Owners Willing to Hand Controlling Stakes to Rustavi 2 Staff
Much still unclear about a surprise deal.
26 Mar.'17 00:26
UN Human Rights Council Demands “Immediate Access” to Abkhazia, South Ossetia
Resolution passed by 18 votes to 5 against. 24 abstained.

About Civil Georgia
Civil.Ge © 2001-2017, Daily News Online
Registered office: 2 Dolidze Str, 4-th Floor.
85