Baku, Azerbaijan, Oct. 12
By Leman Zeynalova – Trend:
Russia’s LUKOIL company is in talks with Azerbaijan’s state oil company SOCAR to continue supplies of Russian oil via the Baku-Tbilisi-Ceyhan (BTC) oil pipeline, Alexey Dzyuba, director of trading at LITASCO SA (100 percent subsidiary of LUKOIL), said.
He made the remarks at the Argus Azerbaijan International Petroleum Summit 2017 in Baku Oct. 12.
The total length of the BТС is 1,768 kilometers, including a 443-kilometer section running through Azerbaijan, a 249-kilometer section in Georgia and a 1,076-kilometer section in Turkey.
Construction of the pipeline started in 2003. It was filled with oil in 2005.
BTC Co. shareholders are: BP (30.1 percent), AzBTC (25 percent), Chevron (8.9 percent), Statoil (8.71 percent), ТРАО (6.53 percent), Eni (5 percent), Total (5 percent), Itochu (3.4 percent), Inpex (2.5 percent), CIECO (2.5 percent) and ONGC (2.36 percent).
The Argus Azerbaijan International Petroleum Summit 2017 is organized by global energy and commodity price reporting agency Argus and SOCAR.
The summit has become one of the key events in the Caspian region, assembling senior executives from leading crude, products, petrochemical, trading and transportation companies in one place to analyze the latest industrial trends and development prospects for the near future.
Key topics of the summit: Caspian – Mediterranean Transportation Corridor Development Prospects; Regional Crude and Products Markets; Crude and Products Exports from Azerbaijan: Main Routes; Caspian Logistics Infrastructure: Rail Transportation and Tariff Policy, Shipowners, Ports and Terminals; Regional Pipeline Routes: Reality and Developments Prospects; Project Financing in Iran. Islamic Financing; Specific Characteristics of Crude Swap Deliveries from the Caspian Region; Petrochemical Industry in the Caspian Region: Production, Transportation and Trading.