SOCAR has redirected oil exports from Baku-Novorossiysk to BTC
Edited by Rhod Mackenzie / 2014-02-18 10:13:46
Azerbaijan Oil and Gas Russia Azerbaijan Oil and Gas Baku-Makhachkala-Novorossiysk Baku-Tbilisi-Ceyhan Russia Oil and Gas Oil Pipelines SOCAR Transneft
Since February 15th, SOCAR began oil supplies to Baku-Tbilisi-Ceyhan (BTC) instead of Baku-Novorossiysk as it was before. The contract on gas transit via Baku-Novorossiysk closed between Russia and Azerbaijan in 1996 expired on February 14th. The contract was ceased under the initiative of the Russian side.
Last year Transneft reported that within the latest 5 years Azerbaijan failed to accomplish the contract terms having transported by 2 times less than is built to the document. The contract presupposed annual transporting of 5 million tons of oil and the actual volume did not exceed 2 million tons. The income from transit did not cover expenses of the Russian company to maintenance of the pipeline system.
