Azerbaijan set to continue pumping oil via Baku-Novorossiysk pipeline

February 14, 2014

The continuation of oil pumping via the Baku-Novorossiysk pipeline on mutually beneficial conditions is in the interests of both "Transneft" and SOCAR, SOCAR (The State Oil Company of Azerbaijan) told Trend on February 13.

Currently, the date of the agreement between two companies has not expired yet, and intense negotiations on this issue are being conducted. The public will be informed after the completion of the negotiations.

As the Russian mass media reported earlier, the issue of the continuation of pumping of Azerbaijani oil via the route Baku-Novorossiysk is being considered.

Currently, oil from Azerbaijan is exported by three oil pipelines - Baku-Tbilisi-Ceyhan, Baku-Supsa and Baku-Novorossiysk, and also by a railway. Thus, if the transportation of oil via Baku-Novorossiysk fails, oil can be directed to two other oil pipelines.

As SOCAR said earlier, after the suspension of pumping oil via the Baku-Novorossiysk oil pipeline, the volume of oil transported on that route will be directed to the Baku -Tbilisi-Ceyhan oil pipeline, on which the majority of the Azerbaijani oil is exported.

Copyright: Trend, 2014