Transneft: SOCAR resumed pumping of its own oil via Baku-Novorossiysk pipeline

State Oil Company of Azerbaijan (SOCAR) has resumed oil transportation via the Baku-Novorossiysk pipeline, press office of Transneft company told RBC and added that the deliveries resumed in February 2014.

In May 2013 Russian Premier Dmitrii Medvedev signed the resolution to terminate the agreement between Russia and Azerbaijan on transit of Azerbaijani oil via the Baku-Novorossiysk pipeline. The oil deliveries via the pipeline temporary continued in accordance with the old agreement.

On February 15, 2014 SOCAR reported that it started re-directing oil earlier transported via the Baku-Novorossiysk oil pipeline via the Baku-Tbilisi-Ceyhan (BTC) pipeline. It became known on February 18, 2014 that SOCAR signed a new agreement with Transneft to transport oil via the Baku-Novorossiysk pipeline.

The Russian Federal Tariff Service has offered to establish the rate for the services of Transneft company to transport oil via the Shirvanovka-Sheskharis route (section of the Baku-Novorossiysk pipeline) at 700 rubles per 1 ton (for pumping at least 1.5 million tons a year).

Igor Demin, official representative of the oil transportation company, explained to RBC that the rate is established for this route for the first time since termination of the intergovernmental agreement with Azerbaijan to pump oil via the Baku-Novorossiysk oil pipeline, which was effective till February 14, 2014. “Earlier we had a rate in USD,” Demin specified.

The rate for transportation of Azerbaijani oil via Russia remained unchanged - $15.67 per 1 ton.—0—
 

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