Kulevi, the first vice prime minister and minister of economy and sustainable development, spoke about the importance of having a full-cycle refinery. Levan Davitashvili, at the briefing in the government administration, said that we are talking in this case about a number enterprises, which were created in Georgia through various support programs from the government. But also about a large investment which actually lays a foundation for a brand new industry.
“I’m sure that this enterprise is going to be a key link, and a cluster for oil refining and producing oil products will be formed here. Kulevi is undergoing intensive construction despite its difficult geology and geography. The company is located in a strategic area. It will be able to receive raw materials and export products from different sources. It is important to evaluate our geographical location because Georgia is located at the intersection of major energy routes, and has a transit function for energy. Levan Davitashvili said that oil and oil products are exported from different countries through Georgia. According to him Georgia is the gateway through which oil from oil-producing Central Asia and South Caucasus countries passes to the West. On the other hand, oil products enter the port of Poti and Batumi.
“Our location is strategically important. The enterprise will have no problem supplying raw materials. There are also preliminary agreements but that is already part of the commercial aspect. The enterprise is competitive and successful because it has all the prerequisites. The company will release a variety of oil products and will focus on both import substitution as well as developing export opportunities. The company will produce bitumen which is needed for our infrastructure construction and we import a lot. They will also produce diesel and petrol. All products will meet European standards. According to Georgian legislation, we have high environmental standards in Europe regarding petroleum products. The Kulevi Project will be developed over several phases. I am confident that the company will eventually be able produce a variety petrochemicals products,” said the first vice prime minister.
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