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TRANSSHIPMENT COMPLEX « KAFA-TERMINAL » ( Feodosia ). February 2013. Map of Black Sea ports. General Part of the Project.
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TRANSSHIPMENT COMPLEX «KAFA-TERMINAL» (Feodosia) February 2013
General Part of the Project KAFA project was initiated by YUKOS in 2003. At this time YUKOS required his own marine terminal for heavy petroleum products to accomplish its mazout exportation chain. Project was designed for it’s own refined products delivery, especially for Novokuibyshevskiy refinery. KAFA was founded as closed joint-stock company by: • YUKOS– 51% • State Property Fund of Ukraine – 25% • Ukrainian private partners of YUKOS– 24% The terminal was consolidated in OilInvestGroup S.A.after restructuring of YUKOS. In 2012 the Project fell under control of Kazakh shareholders and was consolidated in ELVRIT TRADING LIMITED. In April 2010 Deloitteestimated the indicative price of the KAFA project at the level of 180-220 mln. USD.
Status quo of the Project The following project phases are completed: • Purchase Agreement on KAFA interest acquisition with State Property Fund of Ukraine. • Rental agreements on land sites with designated purpose of transshipment complex construction on the territory of currently operating FPONP (Feodosia Oil Terminal); • Preliminary engineering design of on-shore part of the Terminal; Agreements on facilities re-design according to new agreed technical conditions and requirements; Agreements on preliminary engineering design of off-shore part of the Project; • Consumable materialswarehouseand maintenance depot; • 30% of construction and assembling works of three reservoirs, 30 000Mt each; • 70% of construction and assembling works of administration and on-site facilities and garage; • Works on underground pipeline construction (perforation with casing under auto road and railway). • Memorandums of Understanding on oil transshipment with Kazakh subsoil use right owners.
Existing infrastructure Satellite image: in red frames - KAFA rented sites located on the territory of FPONP.
Main technical solutions of the Terminal reconstruction • 2 double-sided rail racks for simultaneous loading/unloading 2x15 tank cars with light and heavy petroleum products. • Reconstruction and completion of tanks №№ 2,3 with V=30 000 м³, completion of tank №1 with V=30 000 м³ for heavy petroleum products, which require warm-up storage and loading/unloading. • Construction of pumping station with capacity of 5000 м3/h for heavy petroleum products loading on tanker. • Construction of 2 underground pipeline branches (with 530 mm diameter each) from pumping station to shore camera. • Construction of boiler with steam power equals 40 tons per hour. • Construction of above-water technological pipeline with the system of mooring posts berths. • Construction of miscellaneous infrastructure.
Technical solutions description • KAFA transshipment complex is primarily oriented on loading/unloading and storage of heavy petroleum products and oil, which require warm-up heating for unloading (of mazout, VGO, heavy oils) from railway tank cars and river vessels and further loading to tankers with deadweight up to 150 000 Mt. • The cost of transshipment of light and heavy petroleum products depends directly on amount of the transported product. The most cost-effective amount varies from 100 000 to 500 000 Mt per month. • Taking into account the annual designed amount of 4 000 000 Mt for KAFA, the monthly volume of transshipment should be 330 000 Mt of petroleum products. • The average time of unloading for 1 tank car with mazout is 6 hours (depends on product quality). • At the basis of these technical solution was taken the example of BLB Terminal, its scheme of transshipment was successfully integrated by ABI TECHNOLOGY JCS (contractor) in Riga, Latvia.
Scheme of transshipment Railway station Tank cars with petroleum products Unloading/loading 90⁰С pumps berth Unloading/loading 90⁰С TS water heating (steam) boiler tank/blending Pipes electroventing TS gas compressor
Target products of transshipment services The transshipment services concludes processing, storage and loading/unloading (from tank cars to vessels) of 3 major types of petroleum products: mazout, VGO and crude oil. • Crude oil – natural flammable oily liquid, consists of complex blend of hydrocarbons and some other organic compounds. • Mazout- heavy petroleum product, its transportation by the pipelines is impossible, the only possible cost-effective shipment option is by using the railway. • VGO– product of mazout vacuum processing. The VGO is exported to East Europe by the railway.
Final consumer Main consumers of the transshipment services Existing on-site railways permit unloading directly from tank cars and river vessels. Storage reservoirs and technology of heated loading/unloading KAFA will render its services to the exporters of heavy petroleum products and oil from Russia, Kazakhstan, Ukraine and other former-USSR countries. Herewith the capacities of petroleum products shipment to the final customers are significantly wider because of the possibility of access of tankers like Suezmax and Afromax. The shipment will become economically reasonable to the Mediterranean countries (Italy, France, Greece, Israel, Spain, etc.) as well as to the South-West Asian countries. Image: KAFA in the value chain
Investment plan and project schedule • Determined construction period - 381 days: commencement date – 5th November 2012, completion date – 30th January 2014. Major part of works will be executed simultaneously (subject to contractors availability and proper financing). • The beginning of transshipment services performance is anticipated on 1st May 2014. The graph below reflects duration and sequence of each type of expected works. All this assumptions are feasible in case of proper execution of investment scheme.
Financial feasibility study According to this summary table we may conclude that in 6 years Company value (100% of equity capital) will rise up to 80100 thousands US$ under the following permanent conditions: annual amount of transshipment – 4 mln. tonns, cost of transshipment – 2,71 $/t (ex VAT), price of transshipment (ex VAT) – 10$/t.
Sensitivity analysis • Below is presented the fluctuation of Company value regarding to: • Volumes of transshipment; • Price of transshipment. • These two parameters are more sensible against to Company value fluctuation.
