SOCAR and Transneft signed a new agreement on the Baku-Novorossiysk pipeline.
Edited by Rhod Mackenzie / 2014-02-19 04:59:13
Azerbaijan Oil and Gas Russia Azerbaijan Oil and Gas Baku-Makhachkala-Novorossiysk Baku-Tbilisi-Ceyhan Russia Oil and Gas Oil Pipelines Transneft
SOCAR (State Oil Company of Azerbaijan) and the Russian "Transneft" signed a new agreement on oil transportation via Baku -Novorossiysk pipeline. This was announced in a statement posted on the SOCAR website on Tuesday.
"After lengthy negotiations on the restoration of oil transportation via Baku-Novorossiysk pipeline between SOCAR and "Transneft" a new agreement has been signed based on mutually beneficial terms and conditions. Resumption of oil transportation through the territory of the Russian Federation will create opportunities for expanding export routes of Azerbaijani oil to the world markets," – the message stated.
