SOCAR Trading starts shipping naphtha from Uzbekistan, delivering it to Black Sea ports

SOCAR Trading has begun shipping naphtha from Uzbekistan and is delivering it to Black Sea ports, Togrul Kocharli, head of SOCAR's Global Business Development Department, said at a business forum during the 28th annual meeting of the Board of Governors of the Black Sea Trade and Development Bank (BSTDB) in Baku, Report informs.

He stated that the BSTDB is bringing together countries in the region, with Azerbaijan serving as a key hub, ensuring the transit of cargo flows from Central Asia to international markets via the Mediterranean and Black Seas.

"SOCAR's main entry point for oil and petroleum products is actually on the Black Sea – at the Georgian port of Kulevi, where terminals and export infrastructure are located. Flows from these terminals are already financed by the BSTDB.

We are also using available credit lines to finance crude oil purchases by the STAR refinery, which SOCAR owns. SOCAR has a significant presence in the downstream sector in Georgia, and the bank's credit lines also help us ensure competitive prices, timeliness, and availability of these supplies. Will Azerbaijan's role as a supplier of export and transit infrastructure increase? Of course," stated Kocharli.

The head of the department noted that the company has traditionally been very active in the two Central Asian countries.

"In Kazakhstan and Turkmenistan, we ship nearly 4 million tons of oil from these two countries to international markets. I'm pleased to announce that this year we've added Uzbekistan to this list. SOCAR Trading has begun shipping naphtha (straight-run gasoline), a petroleum product produced in Uzbekistan, and also delivers it to Black Sea ports," he added.