Black Sea Terminal LLC, located in Kulevi and owned by the State Oil Company of Azerbaijan (SOCAR), is preparing for a major expansion. The company has submitted design and environmental impact assessment (EIA) documents to Georgia’s Department of Environmental Supervision, outlining plans to add new storage facilities and infrastructure to boost capacity.
The project includes the construction of four additional cylindrical steel tanks, each with a capacity of 20,000 cubic meters, adding a total of 80,000 m³ to the terminal’s storage. Alongside this, a two-way railway overpass will be built to ensure more efficient unloading of oil products from rail tankers. Once the EIA process is complete and permits are issued, the company will officially begin construction.
Currently, the Kulevi Oil Terminal operates six tank farms with a total storage volume of 402,000 cubic meters. Following the expansion, this figure will rise to 482,000 cubic meters. The facility is capable of handling up to 10 million tons of oil products annually. Opened in 2008, the terminal has seen steady growth, including dredging works completed in 2023 to improve infrastructure. That same year, shipments increased by 11%, revenue grew by 30 million GEL to 105 million GEL, and net profit reached 52.5 million GEL. The total value of the terminal’s assets stands at 317 million GEL.
The expansion also coincides with the construction of Georgia’s first full-cycle oil refinery, being developed by Black Sea Petroleum on a nearby plot of land. With an investment of USD 600 million, the refinery is expected to source oil from Kulevi Terminal, further strengthening the site’s role as a key hub in Georgia’s energy sector.
