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SOCAR: No need to build LNG terminal in Georgia

SOCAR: No need to build LNG terminal in Georgia

BP Azerbaijan: Last year Sangachal terminal exported more than 286.8 million barrels of oil (21 February 2017 21:46)

Date: 7 January 2016 18:57

Baku, Azerbaijan, Jan. 7

By Maksim Tsurkov – Trend:

Azerbaijan’s state company SOCAR doesn’t see the need for construction of a liquefied natural gas (LNG) terminal on Georgia’s Black Sea coast in the near future, said Vagif Aliyev, head of the SOCAR Investment Department.

He made the remarks Jan. 7 in an interview with Azerbaijani news channel ANS.

“The gas consuming countries in the region are located close to exporting countries,” he said. “In addition, there isn’t a major consumer of liquefied and compressed natural gas in the region, while a terminal is needed to store large amounts.”

“For this reason, investing in construction of a terminal right now wouldn’t be practical,” said Aliyev. “SOCAR has a large oil terminal in Kulevi, which is very efficient and has established an infrastructure.”

“In case of any appropriate condition in the future, we will consider the possibility of building an LNG terminal,” he added.

The terminal in Georgia’s Kulevi was commissioned in May 2008.

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