BP, Turkey agree on new transportation fee for Baku-Tbilisi-Ceyhan – sources

Oil&Gas Materials 21 April 2021 12:25 (UTC +04:00)
BP, Turkey agree on new transportation fee for Baku-Tbilisi-Ceyhan – sources

BAKU, Azerbaijan, Apr.21

By Leman Zeynalova – Trend:

BP and Turkey have agreed on increasing the transportation fee for Baku-Tbilisi-Ceyhan (BTC) pipeline, Trend reports via Turkish media.

Currently, Turkey receives 55 cents worth fee for each barrel of oil transported via BTC, while this price ranges between $1.5 and $2 in other countries, sources told Haberturk.

BP and Ankara are said to reach a confidential agreement on increasing this fee for Turkey, without disclosing the new price.

Commenting on the information, BP told Trend that "transit fee related information is confidential which prevents us from going into any further detail."

The BTC pipeline currently carries mainly ACG crude oil and Shah Deniz condensate from Azerbaijan. In addition, other volumes of crude oil and condensate continue to be transported via BTC, including volumes from Turkmenistan, Russia and Kazakhstan.

The BTC Co. shareholders are: BP (30.1 percent); AzBTC (25 percent); MOL (replaced Chevron as of 16 April 2020 (8.9 percent); Equinor (8.71 percent); TPAO (6.53 percent).

The volume of crude oil transportation to Turkey via the Baku-Tbilisi-Ceyhan oil pipeline stood at 18.494 million barrels in March 2021, as compared to 19.609 million barrels in March 2020, according to Turkey’s BOTAS company.

Turkey’s oil imports via BTC were equal to 18.967 million barrels in January 2021 and 14.537 million barrels in February.


Follow the author on Twitter: @Lyaman_Zeyn