POLITICS
JAPANESE PARLIAMENTARIANS VISITED SANGACHAL TERMINAL
Having updated the guests of energy projects being implemented in Azerbaijan, director of the Sangachal enlargement program Kus Newvenhughes noted that first oil was produced in the contract area Chirag in November 1997. To this end, first oil platform was fabricated at 140 km distance from the coast, and a pipeline from it was laid to the Sangachal Terminal. Oil produced by the International Operating Company is pumped to world markets through the two pipelines - Baku-Supsa and Baku-Novorossiysk. The preparatory work on development of Azeri field is going on and first oil is expected by early 2005. Speaking on the enlargement, director noted that after completion of construction, the terminal where 2500 people have been currently employed, would become the world’s biggest structure of the kind, able to store 1 million barrels of oil.
According to AIOC vice-president Michael Taunend, today Japanese companies are taking an active part in the energy projects in Azerbaijan. Japanese companies have gained over a $500 million order only in the frames of Baku-Tbilisi-Ceyhan pipeline construction. He noted that delegation of the Japanese commercial bank “Mizukho” is to arrive by late September in Baku to negotiate on financing BTC construction. In case if the negotiations are a success, Japan may become the biggest financial partner in project’s realization.
The delegation was accompanied by Ziyafet Askerov, deputy Milli Majlis chairman.