About Civil.ge
Eng | Geo | Rus
Last updated: 14:32 - 20 Apr.'18
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
20 Apr.'18 14:32
Parliament Adopts Changes to Party Funding Rules
The legislation enables the Industrialist party to receive the annual budgetary funding worth over GEL 600,000.
20 Apr.'18 10:20
EU: ‘Deep Concern’ over Human Rights Situation in Abkhazia, S.Ossetia
The EU Delegation to CoE issued a statement in response to the Secretary General’s report on Georgia.
19 Apr.'18 17:29
Majority Group Meeting over Internal Dispute Postponed
The ruling Georgian Dream party lawmakers will convene for a meeting tentatively on April 21.
19 Apr.'18 14:55
Georgia’s Foreign Trade in Q1’18
Georgia’s trade turnover increased by 23.3% y/y in January-March 2018, reaching USD 2.8 billion.
19 Apr.'18 11:51
PM Appoints New Parliamentary Secretary
Natia Mikeladze replaced Shalva Tadumadze, who was appointed as new government administration head.
19 Apr.'18 10:23
Georgian Detained Near Tskhinvali Released
Tamaz Iluridze, a resident of village Plavismani, was reportedly detained by Russian FSB officers.
18 Apr.'18 18:56
Ruling Party MPs to Convene over Internal Dispute
The Georgian Dream’s majority group in the Parliament will hold a meeting tomorrow evening.
18 Apr.'18 15:23
Political Row Continues over Controversial Presidential Pardoning Practices
Giorgi Margvelashvili accuses the ruling and the opposition parties of a concerted campaign against him.
18 Apr.'18 13:11
Activists Protest Detention of Georgian, Threaten to Block Passage to Cars with Russian Registration
Tamaz Iluridze, a resident of village Plavismani, was reportedly detained by Russian FSB officers.
17 Apr.'18 17:42
President Responds to Criticism over Pardoning Practices
President Giorgi Margvelashvili temporarily suspends pardoning of prisoners convicted of violent crimes.

About Civil Georgia
Civil.Ge © 2001-2018, Daily News Online
Registered office: 2 Dolidze Str, 4-th Floor.
81