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Greece to refine Azeri Light oil

Oil&Gas Materials 13 May 2009 11:43 (UTC +04:00)

Azerbaijan, Baku, May 13 / Trend /

The Greek Oil Company (GOC) is interested in purchasing the Azerbaijani oil to refine it at the Greek refineries, President of the GOC John Kostopoulos said at the meeting with the State Oil Company of Azerbaijan Republic (SOCAR) President Rovnag Abdullayev in Baku.

Azeri Light oil is produced from the Azeri-Chirag-Gunashli offshore fields, which is developed under SOCAR's operations jointly with foreign companies. The oil is transported via the Baku-Tbilisi-Ceyhan and Baku-Supsa pipelines, as well as via the railway to the Supsa port.

At the meeting with the SOCAR head, Greek Deputy Foreign Minister Miltiadis Varvitsiotis noted benefits of the Turkey-Greece-Italy (TGI) gas pipeline project and said that this project can be implemented within a short period of time under minimum expenses.

"The TGI gas pipeline is important for Greece and the country aims to implement the project as soon as possible," Varvitsiotis said.

During the meeting, SOCAR Head Abdullayev said negotiations were held both with the Greek Dera company and Italian Edison company to transport the Azerbaijani gas. To diversify gas pipelines is important for Azerbaijan and all offered projects are being examined from this point of view.

Abdullayev also noted his confidence in possibility of good results of cooperation as a result of interaction of the SOCAR's trading companies in Switzerland with the Greek companies.

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