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Lukoil to stop exports via Baku-Tbilisi-Ceyhan

Oil&Gas Materials 30 November 2022 17:56 (UTC +04:00)

BAKU, Azerbaijan, November 30. Russia's Lukoil will stop exports from its Caspian oilfields via the Baku-Tbilisi-Ceyhan pipeline from December due to Western sanctions and divert them to the Caspian Pipeline Consortium system, Trend reports citing Reuters.

A European Union embargo from Dec. 5 is set to ban European buyers from purchasing and transporting Russian oil.

As a major route for Kazakhstan's oil, CPC oil exports are excluded from the ban.

"Russian oil is leaving BTC, the reason is sanctions, BTC doesn't let Russian oil in," - one of the sources said. The other sources, who all spoke on condition of anonymity because of the sensitivity of the issues, said the decision was led by BTC's western shareholders.

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