SOCAR may fill Baku-Novorossiysk pipeline with oil of other production

Oil&Gas Materials 2 June 2009 16:35 (UTC +04:00)

Azerbaijan, Baku, June 2 / Trend , E.Ismayilov/  

The State Oil Company of Azerbaijan Republic (SOCAR) is negotiating with Russia for transit pumping of the Turkmen and Kazakh oil through the Baku-Novorossiysk pipeline, with the aim of loading up to 5 million tons a year, SOCAR's senior official told Trend on June 2. 

"We offered Russia to use the transit oil of Turkmenistan and Kazakhstan to pump the pipeline, but it needs a complement to existing agreements. Despite the fact that negotiations are in the passive form, they are still continuing," the source said.

If Russia is not satisfied with the price for the transit of the Azerbaijani oil, it must apply at the level of Heads of State, the representative of SOCAR said, when commenting on Russian Energy Minister Sergei Shmatko's statement to raise prices for the transit of the Azerbaijani oil through the pipeline.

It is necessary to annul the previous agreement, signed in 1996 to ink a new intergovernmental agreement between Azerbaijan and Russia.

In 2009, the SOCAR plans to transport about 2.5 million tons of oil via the Baku-Novorossiysk pipeline. The source said the company pumps into the pipeline as long as, which is deemed appropriate as a result of careful analysis of prices and freight rates.

"If Russia has provided us with the quality of our oil to Novorossiysk, we could pump 5 million tons a year," the source said.

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