SOCAR and "Transneft" signed an agreement on Azeri oil transportation via Baku-Novorossiysk pipeline since March 1, 2016, the Petroleum Information Agency (ANI), adviser to the president of Russian pipeline monopoly, spokesman Igor Demin.
"On 1 March we will start transportation in accordance with the agreement," he said.
Initially it was planned that approximately 1.3 million will be transported a year, but due to the fact that the treaty will come into force in March, the volume will be less. The agreement is similar to previous years, he added.
* Since 1997 Azerbaijan transports its oil via Baku-Novorossiysk pipeline. According to the State Customs Committee of Azerbaijan, in 2015 SOCAR transported along the "northern" pipeline to 1.2 million tons of oil. Because of the absence of the agreement with the "Transneft" for 2016, in January-February this year, SOCAR was not engaged in the transportation of raw materials by this route. -12D-
Economics
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