Azerbaijan, Russia finalise amendments to Baku-Novorossiysk pipeline agreement

Azerbaijan, Baku, Feb. 29 / Trend E.Ismayilov /

Azerbaijan and Russia have almost completed the preparation of amendments to an agreement on oil transportation relating to the Baku - Novorossiysk pipeline, Azerbaijani Industry and Energy Minister Natiq Aliyev said at a meeting with members of the Caspian-European Integration Business Club (CEIBC) on Wednesday.

Changes to the agreement envisage the possibility for third parties' transportation of oil through this pipeline, as well as a tariff reduction, depending on the increase d level of pumping, Mr Aliyev said.

The minister did not specify the time frame for approval of changes to the agreement.

In September, 2011 talks were held in Baku on amendments to the intergovernmental agreement dated January 18, 1996 for transportation of Azerbaijani oil via Russia.

To date, the agreement between Azerbaijan and Russia on oil transportation negotiates clearly states the fact that the Baku-Novorossiisk oil pipeline can only transport oil of Azerbaijani origin. Cancellation of this paragraph will make it possible to transport oil of other countries such as Kazakhstan or Turkmenistan, currently passing through Azerbaijan.

"Today the cost of pumping a ton of oil from the Azerbaijani-Russian border to the tanker is $15.67 dollars per ton. However, we are working to determine the amount which will then see the tariff going down. This will increase the volume of oil transportation," Mr Aliyev said earlier.

The bilateral Russian-Azerbaijani inter-governmental agreement on the transit of Azerbaijani oil via Baku-Novorossiysk pipeline signed in 1998 provides for the transportation of five million tons a year at the rate of $15.67 for the transit of one ton of oil.

SOCAR ships through Novorossiysk oil from its own fields, as well as oil of joint ventures and operating companies working on Azerbaijan's onshore.

In 2012, SOCAR plans to pump 1.7 million tons of oil using the Baku-Novorossiysk against two million tons in 2011. The decline in oil pumping accounts for an increase in consumption of oil products in the country and as a consequence, the growth of recycling in local refineries.

In 2008 SOCAR exported 1.2 million tons of oil using Baku-Novorossiysk. In 2007 about 1.2 million tons of oil was exported via this route which is the same as in 2006. Exports via Baku-Novorossiysk amounted to 1.6 million tons in 2005.

The operator of Baku-Novorossiysk pipeline before the end of 2007 was the AIOC, which transferred these functions to SOCAR.

Georgian Nadi Group Ltd snail farm increases production
Georgian Nadi Group Ltd snail farm increases production
Georgia researching manufacturing of airplane parts and repair services
Georgia researching manufacturing of airplane parts and repair services
Georgian Dzuguri company to resume production of mineral water
Georgian Dzuguri company to resume production of mineral water
Loading Bars
Tesla crash victim lauded 'full self-driving' in videos on Tiktok
Central Bank of Azerbaijan unveils volume of lending to government agencies
Azerbaijan sees increase in gold price
Azerbaijani cotton processing plant undergoing reconstruction
Azerbaijan demonstrates high growth rates in mobile infrastructure dev't - GSMA Association
ACG oil transshipment from Ceyhan terminal exceeds 75 mb YTD
Second Sputnik V shipment delivered in India
Israeli, Palestinian delegates to attend UN Security Council’s meeting on May 16
Kazakhstan increases imports of Switzerland-made goods
Georgian Nadi Group Ltd snail farm increases production
Georgia researching manufacturing of airplane parts and repair services
Georgian Dzuguri company to resume production of mineral water
Austria's 4M2021 import value of Turkish grains grows
Azerbaijan boosts import of Turkish-made chemicals
Uzbekistan, Dominica establish diplomatic relations
Turkey sees increase in exports of electrical goods to Georgia
Azerbaijani currency rates for May 16
U.S. fuel crisis eases as pipeline returns to normal after hack
Turkey sees increase in clothes exports to Germany
Iran to pass new water law bill
Uzbekistan reveals COVID-19 data for May 16
Iran to revive thousands of stagnant industrial units
Walmart to buy Israeli virtual fitting room co Zeekit
Azerbaijani Armed Forces begin training exercises
Iran increases wheat purchase guarantee rate
Volume of loans issued to Azerbaijan's public organizations decrease
Iran-Switzerland trade depends on JCPOA talks- official
Razi Co. among top three Iranian insurance companies - CEO
OPEN NET internet project to continue in Georgia - PM
It is Armenia that violates internationally recognized borders of Azerbaijan - MFA
Azerbaijan's 4M2021 inflation rate disclosed
Britain to treble tree planting by 2024 to fight climate change
Switzerland sees potential in strengthening co-op with Azerbaijan in energy field
Argentina's COVID-19 death toll exceeds 70,000
Israel hits Hamas politburo leader’s house in Gaza
Turkey registers 11,472 new COVID-19 cases
SpaceX launches rocket with 54 satellites
Brazil reports 2,087 more COVID-19 deaths
France hits target of 20 mln first COVID-19 vaccinations: PM
Air raid sirens go off, explosions heard in Tel Aviv
9 missing in Indonesia's boat accident
IS claims responsibility for Kabul mosque attack
More than 677,000 COVID-19 infections detected worldwide over past 24 hours
Chamber of Commerce hopes Iran's trade to improve as COVID-19 spread declines
Iran to hold conference on electrical engineering
Weekly review of Azerbaijani oil market
Uzbekistan to restore air communication with Saudi Arabia
Georgian Parliament Speaker to pay official visit to Brussels
Britain reports 2,027 new COVID-19 cases, seven deaths
Emergency session of OIC to be held on May 16 at Turkey’s initiative, Ankara says
Turkey aims to create electric vehicle market
Uzbekistan imported more than 200 million liters of gasoline in Jan-Apr 2021
Iranian, Spanish FMs exchange views on economic, trade coop.
Kazakh, Polish, Ukrainian and Arabian airlines to resume flights to Batumi
All international airlines halt air service with Israel
IDF confirms its strike on Gaza building after advance warning to civilians
Azerbaijani and Tajik FMs discuss situation on Azerbaijani-Armenian border
Fitch Ratings forecasts inflation rate in Azerbaijan for 2021-22
Nordwind launches direct flights from St. Petersburg to Baku from May 18
US ambassador to Azerbaijan, USAID director meet with Azerbaijani MP
Shooting occurred on border with Iran, two Azerbaijani border guards were killed
Suez Canal starts dredging work to extend double lane
At least 2,300 missiles fired at Israel from Gaza Strip since May 10
Africa's COVID-19 cases pass 4.67 mln: Africa CDC
Turkish Airlines resumes flights to Azerbaijan's Ganja (PHOTO)
Azerbaijan shares data on number of vaccinated citizens for May 15
France's import value of Turkish cement rises
Azerbaijan confirms 377 more COVID-19 cases, 1,318 recoveries
Azerbaijan's government budget deficit to narrow in 2021-2022 - Fitch Ratings
Azerbaijan's olive oil company entering Russian market
Turkey's revenues from exporting electrical goods to France increase
Fitch Ratings anticipates Azerbaijan's GDP growth in 2021
Value of Georgia's import of Turkish clothes grows
China's import value of Turkish electrical goods up in 4M2021
Turkey unveils number of ships docking at Tuzla port in 1Q2021
French import of grains from Turkey rises in value
Fitch predicts growth in foreign direct investments in Azerbaijan
U.S. requires inspections for wire failure on Boeing 737 Classic planes
Azerbaijani oil prices rebound
Iran hoping to overcome 4-th peak of COVID-19
Iran worried about blackouts due to cryptocurrency mining at homes
Georgia increases exports of beer
Kazakhstan's import value of Turkish electrical goods disclosed
Kazakhstan’s postal operator to engage repair services via tender
Kazakh energy company opens tender for buying isolators
Uzbekistan's import value of Turkish electrical goods notably up
Walmart says fully vaccinated employees can go without masks starting Tuesday
Azerbaijani president, first lady visit secondary school No 1 and Saint Elisæus Jotaari Church in Nij settlement, Gabala (PHOTO)
Georgia reports 1,576 new cases of COVID-19
Iran hopes to start exporting gas if Vienna talks are successful
Iran's 4M2021 import of Turkish grains doubles in value
Turkey reveals 1Q2021 volume of cargo shipment via Trabzon port
Value of Turkish cement export to Germany rises
EBRD to back development renewable energy projects in Georgia
Azerbaijani president, first lady attend opening ceremony of Gabala Railway Station and Laki station - Gabala single-track railway (PHOTO)
Azerbaijani president, first lady attend opening ceremony of new bridge over Bum River, road to Bum settlement after renovation (PHOTO)
Azerbaijani president, first lady visit Albanian Church of Blessed Virgin Mary in Nij settlement, Gabala (PHOTO)
Azerbaijani president, first lady arrive in Gabala district (PHOTO)
Iran inaugurating more projects in Chabahar port
Romania’s Romgaz lowers natural gas output q-o-q
All news