The source linked the expansion of the Kulevi terminal with the modernization of the Baku Oil Refinery named after Heydar Aliyev, following which its production capacity will grow from 6 million tons to 7.5 million tons per year.
"The increase in oil products will naturally lead to building up export," said the source. "Most part of oil products is transshipped through Kulevi terminal, so its expansion is a natural requirement. Now the capacity of the terminal`s storage tank amounts to 320,000 cubic meters."
"SOCAR plans to increase it up to 380,000 cubic meters," said the source. "The expansion project has already started and is likely to be completed next year."
The source added that there is demand for these capacities and it will be ensured at the expense of both Azerbaijani and transit volumes of oil products.
"SOCAR will try to involve third parties, customers, so that they use the Kulevi terminal for transshipment," the source said. "The company is interested in this."
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